Global shipping prices hit another all time high this week. The proliferation of the delta variant of Covid 19 has slowed the turnaround of containers around the world, further amplifying an already acute shortage.
China has experienced major floods along their southern coast which further delayed the shipment of goods.
Global shipping is now fully disrupted. Shipping rates this week hit $20,804 for a single container transiting the Panama Canal to the US East Coast. At this time last year, that same container would have cost under $2,000.
Host: Victor Menasce