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Global Shipping Rates Increase Amid Widespread Port Congestion
Global shipping rates rose sharply due to port congestion and supply disruptions, increasing logistics pressures for manufacturers and retailers worldwide.
Shipping costs surged globally as congestion intensified at several major ports. Weather delays, labor shortages and container misalignments disrupted normal supply flows, raising freight charges for exporters and importers. Manufacturers faced longer turnaround times, prompting adjustments to production schedules. Policymakers explored short term measures to ease bottlenecks while accelerating long term logistics modernization initiatives.