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China container sea rates up 17 percent this year

China’s container shipping freight rates have risen 17 percent this year, approaching 2008 highs, as global trade continues to recover from depressed levels in 2009, the Shanghai Shipping Exchange said on Friday. A spike in demand for goods made in China at the end of last year helped container ports in Shanghai, Hong Kong and Shenzhen shrug off months of decline to return to growth in December.

China, on track to pass Germany to become the world’s largest exporter this year, saw its exports reverse course to rise 17.7 percent in December and 21 percent in January after being battered by the global financial crisis for most of last year.

From Reuters, February 26, 2010

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