container shortage in asia 2020

The pandemic and uneven global … Compounding on the shift in trade imbalances and bottlenecks is that production of new containers is woefully low. The supply of freight containers, that currently are incapable of meeting the huge demand around the world, are driving logistics and freight costs for European and American companies through the roof. Marcus Hand | Dec 09, 2020 … November 27, 2020 Hannah Marshallsay. The absolute largest problem in container shipping right now, is the dire shortage of empty containers in key locations, especially in Asia. Demand surge intensifies container shortages in Asia Greg Knowler, Senior Europe Editor | Sep 15, 2020 10:45AM EDT. addy296490480f8be42bb2ef10b8e6752ef6 = addy296490480f8be42bb2ef10b8e6752ef6 + 'sea-intelligence' + '.' + 'com'; There is not enough transportation space from Shanghai to Southeast Asia as container vessels and air containers have been unable to return to Asia. It was hoped the backlogs could … After a bumpy 2020, an end to the equipment shortage is in sight. According to data compiled by U.S.-based trade database provider Descartes Datamyne, marine container shipments from Asia to the U.S. in October hit record highs, up 23.3% from the same period last year. A similar space shortage happened in 2018 but 2020 is turning out to be much worse for US importers. As sales of furniture and appliances are rising, “it seems that retailers are building up their inventories to brace for a resurgence of COVID-19 cases,” said Takuma Matsuda, professor at Takushoku University in Tokyo. document.getElementById('cloakefbfa13220f0c57c9a790c329ec592b6').innerHTML = ''; var addyefbfa13220f0c57c9a790c329ec592b6 = 'am' + '@'; In addition, shippers need to pay around $1,000-1,500/container to guarantee vessel space, putting effective container rates at around $7,000/container. A consumer shift away from services to goods, caused by the restrictions imposed by governments to control the coronavirus pandemic, has made it harder for firms to get hold of the containers they need to move stuff around … The surge in imports is unprecedented. Using estimates of the global container pool and global volume shipments, we established the baseline for the time a container takes to be loaded in Asia, before it completes its journey, and is once again loaded in Asia. Download Excel file with the above chart(s). This email address is being protected from spambots. var addy_textefbfa13220f0c57c9a790c329ec592b6 = 'am@sea‑intelligence.com';document.getElementById('cloakefbfa13220f0c57c9a790c329ec592b6').innerHTML += ''+addy_textefbfa13220f0c57c9a790c329ec592b6+'<\/a>'; Empty container shortages in Asia to persist into January. Transpacific rates began rising in Q2 2020 and hit a 10-year high in September, but due to lower backhaul volumes, empty containers were slow to return to […] The corona pandemic and its global effects has resulted in a serious container shortage in China. A positive trend of the Container Availability Index, with values of 0.34 for 20DCs and 0.37 for 40DCS, means the market is gaining strength. Container shortage in Asia pushes up shipping costs November 30, 2020 Container shipping rates from China to Southeast Asia are surging due to a shortage of transportation space in the Asian region, the result of an uneven distribution of containers to meet surging shipping demand from Asia to Europe and the U.S. +91 8304011974 From breaking news, technological advances to shipping activities, India Seatrade News brings everything on to a single platform for you. “When we don't succeed in meeting evacuation demand, we are chartering extra ships to get the empty containers to their destination. “India Seatrade News” delivers most relevant, India-focussed expert news coverage on the shipping, ports and logistics sector – carefully picked from well known media outlets. The only scenario in which there is a prospect of resolving the problem in January is the one where carriers both procure new containers, as well as reposition aggressively. The rate was already down in 2019 and dropped even further this year, especially when demand fell dramatically in Q1 2020. Container shipping rates have remained relatively stable as it is a route full of small container vessels. Container shortages and increasing rates add to shipper woes September 10, 2020 COSCO has reportedly stopped taking bookings out of Vietnam as demand for cargo spaces spirals upwards.