Delta-variant Covid-19 outbreaks in several counties has slowed global container turnaround rates

Container shipping rates from China to the United States have scaled fresh highs above $20,000 per 40-foot box as rising retailer orders ahead of the peak U.S. shopping season add strain to global supply chains.

The acceleration in Delta-variant Covid-19 outbreaks in several counties has slowed global container turnaround rates.

Typhoons off China’s southern coast in late July and early August have also contributed to the crisis gripping the world’s most important method for moving everything.

For example, the spot price per container on the China-U.S. East coast route - one of the world’s busiest container lanes - has climbed over 500% from a year ago to $20,804 this week, freight-tracking firm Freightos said. That compares to just under $11,000 on July 27.

This rate surge is the latest reflection of disruptions since Covid-19 slammed the brakes on the global economy in early 2020 and triggered huge changes to the flows of goods and healthcare equipment around the world.