Sea shipping costs have plunged by over 80% from the previous peak as consumption has dropped amid inflation concerns, reports VN Express.
Price dropTran Lam Son, CEO of wood and furniture exporter Thien Minh, said that shipping a container to Europe now costs around $1,700, down nearly 92% from the peak of $20,000 a couple of years ago. The price drop poses opportunities for businesses like Thien Minh but is perceived as a negative sign for the logistics sector.
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