Freight costs edge toward pandemic levels, hitting solar module costs

Freight costs, which represent around 4% of a solar module's total costs, are increasing on trade lines between the Far East and the US West Coast, Northern Europe, and Mediterranean region. Freight container shipping spot rates have increased to their highest level since 2022, according to data from Xeneta, a Norwegian ocean and freight rate benchmarking platform. At the end of May, Xeneta said market average spot rates from the Far East to the US West Coast would reach $5,170 per forty-foot equivalent unit (FEU) on June 1. The figure is 57% higher than in May and the highest that spot rates ...

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