Chinese exporters are facing rising shipping costs amid a shortage of containers which was worsened by the recent Suez Canal blockage.
"Shipping costs of a 40-foot-container from Tianjin to the United Kingdom soared from $3,000 to $14,000 during the few weeks before Chinese New Year, and the company ended up paying $10,000 per unit for shipping the bikes they purchased," said Li Qing, president of Easy-try Cycles.
"The FOB . . .
To continue reading, please subscribe. You will get:
- ORIGINAL, DATA-DRIVEN & IN-DEPTH STORIES
- THE WIRE 24/7
Real-time experience - Up-to-the-minute updates of market-moving news and views.
All-in-one platform - Information collected via a network of journalists, traders, brokers, analysts, etc. and from multiple credible news outlets in mainland China.
Details - General information is everywhere, but information with details is rare.
- WEEKLY NEWSLETTER - A summary of the week's top news distilled into one email.
Already have an account? Sign In