Title: Why is there a Container Shortage in the Shipping Industry? - Clarion
Headings: Why is there a Container Shortage in the Shipping Industry?
Why is there a Container Shortage in the Shipping Industry?
Content: The limited availability of containers is one of the major reasons behind the unprecedented surge in sea freight rates in the second half of this year. The other factors that affected the prices are listed below: Strong demand to restock the inventory in North America and Europe. The hurry to transport goods and cargo ahead of the Chinese holiday, “golden week.” Carriers tightening capacity due to the coronavirus pandemic. The shortage of containers is not limited to one country. It is a global issue as containers are part of the global trade cycle. A few other factors that have contributed to the container shortage are: The transhipment ports of Colombo are congested. This is adding to the lead time.