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Zuru Toys founder: There could be price gouging among shipping companies

Author
Newstalk ZB,
Publish Date
Fri, 9 Jul 2021, 7:47PM
Photo / File
Photo / File

Zuru Toys founder: There could be price gouging among shipping companies

Author
Newstalk ZB,
Publish Date
Fri, 9 Jul 2021, 7:47PM

The price of shipping goods across the globe is absolutely sky rocketing.

For Kiwi toy company Zuru, the cost of shipping from China to the UK has gone from $1800 to $18,000.

They’ve also had to buy an extra 100,000 square metres of space to host all purchased stock they can't ship out yet.

Zuru founder Nick Mowbray thinks there could be price gouging among shipping companies and the profits they’re reporting.

“If you look at the 11 major shipping lines, they reported about $17 billion in net profit from the first quarter of this year and that’s more net profit than the previous ten years’ first quarters combined.”

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