The Wall Street Journal reports that challenges in the domestic market are leading to increasing efforts to reach other markets. This has made cargo ships specially designed for vehicle transport extremely desirable, and freight prices have skyrocketed. Leasing such a ship cost around $70,000 per day in June, compared with $42,500 at the end of last year.
Some manufacturers, such as BYD, have their own ships, while others, out of sheer desperation, have to use classic container ships where the cars are packed into containers, usually intended for, for example, clothing, furniture and electronics.
