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Commodities

Container shortage in Asia pushes up shipping costs

Rates from China to Singapore up fourfold amid snarls in the US

Marine container traffic is rising even amid the novel coronavirus pandemic, pushing up shipping rates. (Photo by Akira Kodaka) 

TOKYO -- Container shipping rates from China to Southeast Asia are surging due to a shortage of transportation space in the Asian region, the result of an uneven distribution of containers to meet surging shipping demand from Asia to Europe and the U.S.

Container shipping rates, including those for Europe and the U.S., are likely to remain at high levels, as it will take some time before the shortage is resolved.

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