Global shipping freight increases by 250%

After the Corona virus situation, transportation of goods from Pakistan to China, Europe and the United States became many times more expensive.

Shipping lines’ profits are at an all-time high, with global shipping freight rising by about 250 percent a year.

Fares for US ships from China have increased fivefold since the outbreak of the corona virus.

According to some experts, this is all due to the shortage of containers, but on the other hand, the profits of global shipping lines are increasing rapidly.

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Container fares for Pak-China trade have risen from 250 250 to 900 900.

Pakistan’s fare to Australia and New Zealand has risen from 1000 1,000 to 4 4,000.

Merchants around the world are complaining that shipping lines are charging hundreds of dollars even if bookings are canceled within 48 hours.

Shipping freight for various ports has increased significantly since August 2020, according to a report.

The report also said that fares for Latin American and some African ports have risen by as much as 500 percent.

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Third world countries, including Pakistan, do not seek clarification from shipping lines, but the US Federal Maritime Commission has begun inquiring about shipping charges and other complaints from eight shipping lines.

The commission said action could be taken if the rent was found to be improper.