ANZ:
In New Zealand dollar terms, the index lifted 4.1% m/m as the NZD fell 0.8% against the US dollar.
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As part of this report ANZ look each month at Global shipping prices.
- Global shipping prices are generally trending higher as problems traversing the Suez and Panama Canals are making journeys longer and more expensive.
- The Baltic Dry Index shot up again in February but still remains well below the level attained during the pandemic when global shipping was severely disrupted.
- New Zealand’s smaller exporters are more exposed to the recent changes in shipping costs as they rely on gaining space on container ships, as opposed to having long-term contracts directly with the shipping providers or having the scale to utilise charter ships.
