Covid saw a massive price hike in the cost of shipping across the world along with huge delays and freight backlogs as ports became with reduced capacity became congested. Now those prices are being reduced by a combination of factors, including the easing of Covid restrictions across the majority of the trading world.
New Zealand is gaining many of these benefits in reduced freight rates, but at the same time there has been a drop in the number of ships servicing ports across the country, which is having a slightly balancing effect.
Singapore, Kuala Lumpur and Hong Kong are still heavily congested and have significant backlogs to work through which means prices are not going to fall below pre-Covid levels any time soon. In reality it is unlikely that they ever will, even as the backlog of freight around the world is worked. However, bulk freight is now available at the best rates since the start of Covid and this is by far the best time to be shipping that we have seen in the past few years.
With Chinese New Year looming, now is a great time to lock in those shipments and reap the benefits of the fall in shipping costs.
Get in touch with us today for a quote on your shipment.