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Cargo prices skyrocketing as companies and the federal government rush medical supplies to the US

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The cost to ship goods to the US has jumped up in recent weeks as demand for medical supplies and other goods has skyrocketed and the number of flights has dropped amid the global coronavirus pandemic

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Hospitals, states and numerous front-line businesses have been desperate to acquire personal protective equipment, much of it coming from China. The urgent need for supplies has come at the same time that much of the world's travel has ground to a halt. Around 50% of the world's cargo flies in the bellies of passenger planes, so as flight capacity has dropped 65% this quarter, the amount of air cargo space has plummeted and prices jumped sharply.

 

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profiteering....

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