Autumn/winter usually means typhoons in Asia & Southeast Asia and we have already seen a number that affect shipping lines and ports around Far East. The other week Sri Lanka was hit by a hurricane and the port are already affected by Covid regulations, with reduced manpower and capacity. As a result we now face some 50 000 units standing in port area, waiting to be reloaded and shipped further to final destination.
Continued strong export, mainly from China, and in combination with increased volumes for North America and Europe worsen the situation with a shortage of equipment. There is still a general shortage of 40dv/hc in China but also in other countries such as Vietnam, Bangladesh, Taiwan and India. As the situation has worsened, market prices have soared during November and before December, now to new record levels.
The shipping lines are taking measures, for example a large number of empty units shipped from the USA and Europe, mainly to the major ports in Asia and where the need is judged to be greatest before the Chinese New Year. We have also received information where a few shipping lines have placed large orders for completely new containers, these are expected to be delivered continuously during the first half of 2021.
We see that the current situation will persist and in step with even increased demand ahead of the Chinese New Year and as always recommend bookings in due time.
Please feel free to reach out for further details,