Container Shipping Costs On Track To Raise Worldwide Consumer Prices: Report

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By Richard Horgan Los Angeles (Knewz) — The latest United Nations “Review of Maritime Transport” paints a very precise picture. In 2020, the global commercial shipping fleet of vessels with a capacity of 100 tons of cargo or above grew by three percent to 99,800 ships. Manning these ships was a total workforce of 1,892,720, powered in the trenches predominantly by workers from the Philippines, Russia, Indonesia, China and India. While maritime trade is projected to increase by 4.3 percent in 2021, freight rates have been on the rise since the second half of 2020. Key contributing factors inclu…

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