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An ‘aggressive’ fight over containers is causing shipping costs to rocket by 300% – CNBC

Industry watchers said desperate companies wait weeks for containers and pay premium rates to get them, causing shipping costs to skyrocket.

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A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao, eastern China’s Shandong province.
SINGAPORE A critical shortage of containers is driving up shipping costs and delays for goods purchased from China.
The pandemic and uneven global economic recovery has led to this problem cropping up in Asia, although other parts of the world have also been hit. Industry watchers said desperate companies wait weeks for containers and pay premium rates to get them, causing shipping costs…

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