Chinese authorities pledge to study targeted measures to help exporters cope with tight shipping capacity and rising logistics costs which are set to plague businesses into next year.
The cost of container shipping rate from China and East Asia to the east coast of the US soared by 442 per cent to $20,057 per 40-foot equivalent unit from only $4,000 a year earlier, according to freight-tracking firm Freightos.
According to Maritime research consultancy Drewry, shipping rates from Shanghai to Los Angeles jumped 242 per cent last week compared to a year . . .
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