Posted on July 25, 2022

THERE has been a huge increase in the cost of long-term ocean freight rates into Australasia over the past year, according to recent data from a market intelligence company.
the company said the global market for container shipping is in overdrive, causing pain to shippers and adding to the huge profits of leading carriers.

“Nowhere is this more obvious that with the chief trades – from China, South East Asia and Northern Europe – into Australia and New Zealand,” they said.

Data shows that despite falling import volumes over the first five months of the year – down 7.6% into Australia and 13.5% to New Zealand – freight rates are at record highs.

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