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The water level of the Panama Canal has dropped, global ports are congested, and shipping companies have implemented empty flights. The effective capacity of the US East Route has been tight, pushing freight prices up continuously. The latest data from the Shanghai Shipping Exchange shows that the freight rate per FEU (40-foot container) on the East Coast route rose to US$9,568, a weekly increase of 2.99%. Market expectations are that it is expected to exceed the US$10,000 mark in the short term, approaching high-end levels during the COVID-19 epidemic.