COVID-19 Capacity Crunch Increases Cost of International Shipments

Capacity constraints have driven up rates for international shipments.
This includes all modes of transport – sea, air, and land.
The cost of moving goods by ship has climbed 12% in 2020.
Ocean-liner rates have benefited from the industry being more disciplined with idle capacity.
Limited passenger flights have created a significant reduction in available belly capacity.
This scenario has helped drive rates higher despite a decline in demand of about 19%.
Air-cargo rates from Hong Kong to...