Sky-high shipping rates show signs of shrinking as port backlogs ease

Ocean carriers have raised their rates since mid-2021, as demand rose amid restricted capacity following the lifting of pandemic restrictions across countries. PHOTO: AFP
New: Gift this subscriber-only story to your friends and family

BALI - Before Covid-19 hit, shipping a half-tonne life-sized rhinoceros sculpture abroad by sea was relatively straightforward and inexpensive, Ms Kristina Measari recalls.

The 36-year-old owner of Bisa Cargo in Bali, which specialises in arranging the freight and handling of outsized items - including giant busts of Buddha each the size of small cars - said that while rates for unwieldy objects vary, US$40 (S$55) per cubic metre was the norm before the pandemic.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.