Shipping costs have now returned to normal levels

Container freight rates from China to the West Coast of US, January 1998 = 1,000

3,000

2,500

2,000

1,500

1,000

500

0

2019

2020

2021

2022

2023

3,000

2,500

2,000

1,500

1,000

500

0

2019

2020

2021

2022

2023

3,000

2,500

2,000

1,500

1,000

500

0

2019

2020

2021

2022

2023

3,000

2,500

2,000

1,500

1,000

500

0

2019

2020

2021

2022

2023

Shanghai Shipping Exchange, 2023