Shipping: Costs

Department for Transport written question – answered on 28th June 2021.

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Photo of Mary Foy Mary Foy Labour, City of Durham

To ask the Secretary of State for Transport, whether his Department has made an assessment of trends in the level of maritime shipping costs in the last six months.

Photo of Robert Courts Robert Courts Parliamentary Under-Secretary (Department for Transport)

Shipping costs have risen during 2021 to a high level on a global basis as a result of supply and demand factors in international freight markets.

Unprecedented levels of demand are being driven by changes to consumer behaviors worldwide during the pandemic. Historical trends in the shipping sector are of pricing peaks and troughs, and it is expected that pricing levels will similarly re-adjust when the current demand drivers change. However, industry estimates are that high levels of demand will continue throughout 2021.

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