Home / WORLD / Cost of shipping from China or East Asia to northern Europe is now $15,000 per forty-foot equivalent unit as of September 24, 2021

Cost of shipping from China or East Asia to northern Europe is now $15,000 per forty-foot equivalent unit as of September 24, 2021

Cost of shipping from China or East Asia to northern Europe is now $15,000 per forty-foot equivalent unit as of September 24, 2021
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According to the Freightos Baltic Index (FBX), the cost of shipping from China or East Asia to northern Europe is now $15,000 per forty-foot equivalent unit (FEU) as of September 24, 2021.

That’s up from around $2,500 pre-pandemic.

BFA resident Economist, Gary Raines, describes this as a “global phenomenon” in our Q3 Footwear Market Update webinar, which is available to watch here: https://lnkd.in/d4-zHPQr

Add to this are insights from Wayne Gibson of RIF Worldwide who says that the global shipping situation is in dire straits due to a sharp decrease in the number of carriers (down from 17 to 9); the consolidation of these remaining carriers into three alliances; port congestion; unreliable schedules; high ocean demand, and labour challenges.

UK disruption specifically is being compounded by driver shortages, issues with the speedy unloading of cargo and congested ports.

Source: Online/KSU

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