Since the outbreak of COVID-19, countries around the world have imposed blockades, resulting in a decline in global demand for the transport of goods. Many small and medium-sized shipping companies have gone bankrupt because they can not withstand the pressure of shutdown.

Recently, however, there has been a new turnaround, and data shows that the freight rates of shipping routes between China and the United States have soared by about 90% in the past three months.

Why is so hot? There are three reasons:

1. The shipping company lost too much in the early stage, so it needs to raise prices to make up for the loss.

2. As China is one of the countries with the fastest recovery after the epidemic, the volume of containers exported by China is slowly increasing, but the number of containers imported into China from abroad is decreasing, so it’s resulting in a shortage of containers.

3. Because it is usually the peak period for the global shipping industry before autumn, and sea freight will also rise, which is a cyclical rule.

So if you have any purchasing plans, I really suggest you to book the container space and lock the price from now ASAP.