Question Issued by A Crane Company-When Will the Crazy Shipping Industry Cool Down?

We are the professional designer, manufacturer and service provider in crane and material handling equipment. Our products are usually delivered by sea transportation.Shipping costs have been growing strongly since the autumn of 2020 , which cause great pressure in our international trade.

There are indications that global shipping prices are still soaring. Recently, the Baltic Dry Bulk Index hit a new high again, soaring to 4233 points, a record high in the past 12 years. Compared with the low point of 1111 points in January last year, the cumulative increase has reached 281%. According to Drewry Shipping data, the spot freight rate of manufactured goods has soared for 20 consecutive weeks, an increase of 731% from the average seasonal level of the past five years.