Shipping costs

The cost of shipping goods from China to Europe has more than quadrupled since the beginning of 2021, hitting record highs as a shortage of empty containers stemming from the pandemic disrupts global trade. This is according to shippers and importers, who report the cost of shipping a 40-ft container from Asia to northern Europe has increased from about $2,000 in November to more than $9,000. Factors including Covid-19 delays mean that congestion at ports is contributing to higher prices, with shipping lines charging extra fees to compensate for longer waiting times. It also raises the risk of increased claims and consequential disputes.