Spiralling shipping costs fire up prices from coffee to toys

Transporting a 12-metre container by sea is now 547% higher than the seasonal average over the last five years

13 June 2021 - 17:49 By Alex Longley, Catherine Bosley and Deirdre Hipwell

The skyrocketing price of shipping goods across the globe may hit your wallet sooner than you think — from that cup of coffee you get each morning, to the toys you were thinking of buying your children.

Transporting a 12m steel container of cargo by sea from Shanghai to Rotterdam now costs a record $10,522 (R144,266), a whopping 547% higher than the seasonal average over the last five years, according to Drewry Shipping. With upwards of 80% of all goods trade transported by sea, freight-cost surges are threatening to boost the price of everything from toys, furniture and car parts to coffee, sugar and anchovies, compounding concerns in global markets already bracing for accelerating inflation...

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