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Shipping rates between China and US, Europe continues to surge, shipping giant Cosco saw Q3 profit more than triple the year-ago

Last updated on November 6, 2020

Shipping rates between China and the US and Europe nearly doubled in the past six months as overseas demand picked up amid coronavirus-induced disruptions to overseas manufacturing sectors and as Christmas holiday season draws closer which brings strong foreign demand.

According to the Shanghai Shipping Exchange, Shanghai Containerized Freight Index (SCFI) stood at 1529.99 on October 30, marking a new high in eight years and surging 83 per cent from the average reading in May . . .

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