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RIO DE JANEIRO, BRAZIL - Ocean freight on the China-Brazil route has soared and reached an unprecedented US$10,000 per TEU container, according to importers and shipping companies operating in the port of Santos.

”It is a record high; I had never seen freight reach that amount,” said Luigi Ferrini, Senior Vice President of Hapag-Lloyd in Brazil. A year ago, the cost of this same route was in the range of US$2,000 per TEU.

According to Rafael Dantas, director of the importer Asia Shipping, the rise in freight costs has increased since October, with the global . . .

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