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Datawatch

Shipping rates from China spike ahead of US holiday season

COVID creates logistics scarcity that empties North American and Europen stores

A container terminal in Fukuoka, Japan. Due to the pandemic, there are fewer container ships crisscrossing the seas, which has led to a surge in shipping prices.

TOKYO/NEW YORK/HONG KONG -- The coronavirus pandemic has triggered a spike in international shipping rates that risks impacting Christmas sales and the global economy.

The capacity to move cargo from China to the U.S. has decreased due to a decline in the number of container ships making runs. As a result, shipping rates are surging.

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