Asian Shippers Hit by Double Whammy of Lack of Boxes and Capacity Squeeze

Shippers in Asia face a double whammy of equipment shortages and tight shipping capacity that is driving an unrelenting spike in short-term contract rates.

Vessels to North Europe and the U.S. west coast are reportedly “fully booked for two to three weeks after Golden Week,” according to one Shanghai-based NVOCC source.

“Additionally, some of the carriers just do not have any 40-ft high-cube containers at their depots, so even if we could get a booking, we can’t get hold of the boxes,” he said.

In its latest Container Availability Index update, Container XChange reports container availability “dropping across Asian ports” and doesn’t see the situation improving promptly.

Read more in an article from The Loadstar.

Source: CIFFA (06-10-2020)

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