There has been an online home-shopping boom in the USA, which has caused transpacific sea freight rates to increase to the highest on record. This is helping the container shipping industry in Asia, which suffered a downturn when world trade declined due to the pandemic.
Exports of household appliances from South Korea to the US increased by 51 per cent in August compared with the same period a year ago, climbing for a third consecutive month. Exports of computers, notebooks and other associated gadgets soared 169 per cent.
Increased consumer demand has caused shipping rates on the transpacific route to almost triple from this year’s low in March.