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12 Aug 2024

BREAKING: Container shipping costs from China have spiked to their highest levels since 2022

Since the beginning of 2024, shipping rates have more than TRIPLED. It now costs ~$9,000 to ship a 40-foot container from Shanghai to New York and ~$8,000 to Los Angeles. This has been driven by a sharp drop in Suez Canal transit volume, disruptions at some ports in Asia, and demand increase due to inventory restocking. Rising shipping costs should be considered as an upside risk to inflation. Source: The Kobeissi Letter

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