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Cosco reopened fireworks routes, freight rates continue to fall

December 13,2022

There is significant market volatility that continues to disrupt the container shipping

industry. With a significant oversupply of containers and a further influx of more TEUs in 2023, Shipping lines continue to reduce vessel capacity and suspend services by considerable blank sailings. Towards the latter half of the year, the prices started to plummet and continue to crash as we transition into the new year.

Influenced by the environment, sea freight rates for fireworks and firecrackers continue to fall, with container prices from China to Europe and the Americas both showing varying reductions. Cosco Company reopened fireworks routes to some ports in South America, which leads to easier booking and lower prices. This will affect the cost of fireworks import around the world, which is expected to lead to lower prices in fireworks markets. The pressure on fireworks importers will be further reduced.