Business
Aerial view Large RoRo (Roll on/off) carrier vessels convey cars and trucks at quayside into and out of the world market.
(Getty Images)
CAR-GO

China’s booming car-export industry has driven shipping rates to record highs

…but now rates are falling at last.

Tom Jones

There’s probably never been a better time to be in the business of shipping cars across the world than the past couple of years, with freighters carrying 6,500+ cars earning as much as $115,000 every day as recently as March, data from Clarkson Research Service via Bloomberg shows.

The ultra-lucrative period for companies in car cargo might be coming to an end, though, as the international vehicle-carrying fleet continues to grow and begins to outstrip demand going into the year ahead.

Car shipping rates chart
Sherwood News

In November, earnings for car-carrying ships fell to $95,000 a day — obviously a still substantial figure and way above the prepandemic 21st-century peak, but the first time that the rate has fallen below $100,000 a day since September 2022. 

Interestingly, the heightened rates — and the short supply of car-carrying vessels that bore them — saw Chinese EV giant BYD decide to get into the vehicle-shipping business itself, with the first ship in its fleet (the BYD Explorer No. 1) embarking on her maiden voyage at the start of 2024, when daily shipping rates hovered around the $115K-a-day mark.

Chinese companies have been behind much of the explosion in demand for shipping as the country has swiftly ramped up its own production and distribution capabilities, becoming the world’s largest exporter of cars this year, thanks in part to its booming EV industry, which sold 1.7 million vehicles abroad in 2024.

Zooming out: Even with the threat of tariffs, the sheer volume of stuff we’re shipping across oceans has been hitting record highs this year.

More Business

See all Business
business

Starbucks issues apology after viral “Bearista” cup meltdown

Holiday cheer turned into chaos this week for Starbucks after the coffee giant’s new “Bearista” holiday cup sent fans into a frenzy. 

Dropped alongside its 2025 holiday menu, the $30 beanie-wearing glass bear tumbler sparked long lines, sellouts, and even in-store scuffles before Starbucks stepped in with an apology.

“The excitement for our merchandise exceeded even our biggest expectations,” the company said in a statement to People. “Despite shipping more Bearista cups to our coffeehouses than almost any other item this holiday season, the Bearista cup and some other items sold out fast.”

Within hours of launch, frustrated fans flooded Starbucks’ social media pages and even store hotlines. Some customers waited in line before dawn and others said their stores received only a handful of cups. In one Houston location, the craze even turned physical, with police reportedly called to break up a brawl. Meanwhile, the cup is already reselling on sites like eBay, with listings topping $600.

“We understand many customers were excited about the Bearista cup and apologize for the disappointment this may have caused,” Starbucks said. While in-store customers may be upset, investors seem happy about the viral hit, as the stock has risen over 3% on Friday.

If you’re still hoping for a Bearista at market price, that may not be on order: the chain didn’t disclose how many cups were made or whether a restock is planned.

business

Target tells workers to smile, wave, and greet shoppers if they come within 10 feet of them

Target just rolled out a new rule for store employees: smile, make eye contact, and greet or wave when a shopper comes within 10 feet — and if they get closer, within four feet, ask whether they need help or how their day is going, according to a new Bloomberg report.

Dubbed the 10-4 program internally, the rule mirrors rival Walmarts own 10-foot policy, formalizing behavior Target had previously only encouraged.

business

Monster surges on energy drink buzz, while Celsius sinks on distribution concerns

Shares of Monster Beverage climbed 5% after the bell on Thursday, and held most of those gains into early trading on Friday, following strong Q3 results.

The energy drink giant topped market expectations, with quarterly sales up 17% year over year to $2.2 billion and adjusted net profits growing 41% to $524.5 million — 11% ahead of Wall Street’s estimates. In the report, Monster highlighted its zero-sugar line and new product launches, with a stack of novel flavors already released this year, as bright spots.

During a call with analysts, Chief Executive Hilton Schlosberg said that the global energy drink category “remains healthy with robust growth,” The Wall Street Journal reported, adding that demand for more affordable caffeinated drinks is rising as coffee has become “really expensive.”

Meanwhile, rival beverage business Celsius saw shares fall as much as 23% on its Q3 results yesterday — despite beating expectations, with revenue jumping 173% — largely due to concerns about a change in the company’s distribution channel, as its newly acquired Alani Nu brand joins the PepsiCo distribution network.

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.