The question remains: why is shipping so expensive in 2021? The primary reason for the sudden spike in the price of shipping is the world's ongoing nemesis: COVID-19. The pandemic affected global supply chains in 2020, and shipping prices reflect that. There's a Global Shipping Container Shortage.
Why are shipping costs increasing?
Therefore, as the economy expands and demand exceeds supply (which we are seeing now), shipping prices increase to help manage demand for cargo space, and to cover costs from unprofitable periods when prices fall.
Why does Sea freight Increase 2021?
Ocean freight rates are driven up by the ongoing impacts of COVID-19 and the peak season in 2021.
How much have freight costs increased in 2021?
A separate measure in the Logistics Managers' Index that tracks overall logistics prices, including transportation, warehousing and inventory prices, reached a record in November, up 3.4% from October and a 14% increase year-over-year.