A giant ship wedged across the Suez canal, record-breaking shipping rates, armadas of vessels waiting outside ports, covid-induced shutdowns: container shipping has rarely been as dramatic as it has in 2021.

The average cost of shipping a standard large container (a 40-foot-equivalent unit, or feu) has surpassed $10,000, some four times higher than a year ago (see chart).

The spot price for sending such a box from Shanghai to New York, which in 2019 would have been around $2,500, is now nearer $15,000.

Securing a late booking on the busiest route, from China to the west coast of America, could cost $20,000.

Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.

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