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Container shortage pushes up shipping costs

1. Storage fees and demurrage incurred during this period are also a huge expense. Under this circumstance, with the gradual recovery of demand, no shipping company is willing to continue operating at a loss, and freight rates naturally soar.

2. Container shipowners have nominated further surcharges and rate increases for Asia-to-Europe routes in the final weeks of the year as a shortage of boxes in Asia outpaces the slowdown in export shipments.

3. It has become a problem to recruit a basic number of seafarers worldwide. Seafarers' wages have also risen sharply this year, which has also increased shipping costs to a certain extent.

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