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Shippers pay bumper bonuses as supply chain chaos buoys profits

Staff at China, Taiwan shipping companies get windfall amid surging demand

A COSCO ships sails on the Bosphorus in Istanbul, Turkey in 2018. Staff at the Chinese shipping giant say salaries and bonuses have risen in the wake of the COVID-19 pandemic.   © Reuters

Chinese shipping companies are offering higher salaries and year-end bonuses as global supply chain disruptions due to the COVID-19 pandemic lead to buoyant profits.

Employees of the container unit of state-owned shipping giant COSCO Shipping said their year-end bonuses had grown to as high as 30 times their monthly pay. Year-end bonuses are usually paid right before the Lunar New Year.

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