Industry
Soaring freight rates set to weigh down exporters
Nov. 8, 2020
South Korean exporters are expected to suffer from sky-high freight rates throughout next year, as global trade is set to rise down the road amid the pandemic, industry watchers said Sunday. The Shanghai Containerized Freight Index, a barometer of global freight rates, came to a new high of 1,664.56 on Friday, according to industry sources. The previous record was 1,583.18 posted in July 2010. Industry watchers say exporters are anticipated to face heavy shipping costs throughout next year, as