Container shortage 'could last two years'

Equipment shortages could remain a feature of the container shipping landscape for up to two years, pushing shippers to use those supply chain providers still able to secure adequate capacity, according to one logistics major.

Alwyn Mendonca, MD of GAC Hong Kong, said the container shipping demand rebound had been so rapid that the entire industry had been caught off balance.

“No doubt, the fact that there are fewer boxes has helped some freight rates to double since the beginning of the year,”.

“However, researchers suggest that 6 million new boxes are needed, and that’s equivalent to about two years of production.

“Hence, in spite of carriers now placing orders for new containers, there is very little hope that the current shortage is going to get better.”

Read full article at Ifw website