Company Watch

Samudera riding wave of soaring container shipping rates

Samudera operates a thriving regional container shipping business providing feeder services between Singapore and other ports in Asia.PHOTO: BLOOMBERG

SINGAPORE - Over the past year, global shipping rates have hit multi-year highs, driven by a commodity boom, port bottlenecks, shortage of containers and an industry capacity crunch.

The blockage of the Suez Canal in March following the grounding of giant container ship Ever Given simply brought the whole issue into sharper focus.

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