It's not just shipping costs and times, but also (and perhaps most importantly) shipping's total capacity. The same fleet of ships can now make substantially le

It's not just shipping costs and times, but also (and perhaps most importantly) shipping's total capacity. The same fleet of ships can now make substantially less trips, which means that substantially less goods will be transported between Europe and Asia. Perhaps rising costs of shipping on this route will divert some ships from other routes around the world here, but overall outcome across entire world has be to less maritime commerce, leading to increase in prices of goods.