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Shipping costs have risen sharply and fierce competition for ocean freight capacity is the new normal. With new capacity only slowly coming onstream, freight rates are expected to continue to reach new highs this year and will remain above their pre-pandemic levels in the longer term.
This is the beginning. Shipping stock will shoot up due to the high freight rate. freight rate has gone up 200 to 500%. The increase is much more than the palm oil price.
