McKinsey video highlights reasons for shipping rate hikes

Why prices have increased around the world

McKinsey & Company have produced a video describing why prices for international shipping have soared across the world.

The 9-minute explainer covers influences including changing consumption patterns in the US, which are driving shipping demand and causing congestion at ports; and port lockdowns and out-of-service container ships reducing capacity worldwide.

It also looks at the long-term implications of this issue and when rates might be expected to return to more normal levels.

You can watch the McKinsey video here.

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