Sea Freight: With Great Growth Comes Great Emissions

Sea Freight: With Great Growth Comes Great Emissions

Sea freight is thought to be the indispensable link enabling global e-commerce to thrive, even during the pandemic.

As a result, freight forwarders and shipping agents have enjoyed their most lucrative period ever. The golden age for shipping firms is also epitomised by container shipping companies like Taiwan's Evergreen, which offered a generous year-end bonus to employees, in some cases, as much as 40 months’ salary. 

According to Freightos Baltic's index, in 2021, the average price of shipping a container from Asia to the US west coast grew by 500% year on year, amounting to almost US$20,000 for a 40-foot container, compared to less than US$2,000 in 2020.