Pandemic drives sea freight prices to record high ...Middle East

LONDON: Container shipping prices have reached record highs some 18 months after the outbreak of the coronavirus pandemic which disrupted maritime logistics chains and drove demand sky-high.“We are basically running out of vessels and of empty containers,“ Alan Murphy, head of the consultancy Sea Intelligence, told AFP.“There’s been a massive shortage of empty containers, they are in the wrong place, they are stuck in ports and not in Asia ready to be loaded.”The Freightos Baltic Index, a benchmark for major shipping routes, has more than tripled in a year to nearly $7,000 (RM 29,000) for a trip from China to the west coast of the United States.A trip to Europe has exceeded $10,000 (RM 41,00

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