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Back Container shortage: Why does the current container shortage happen?
Are you having problems booking shipments these days? Scarce slots and high shipping rates are causing you headaches? Almost all industries around the globe are currently suffering from the same problem. Everyone is blaming COVID-19, but what is the full story? What is the cause and what can you do to manage this situation?
Early in 2020, lockdown first started in China, then in Europe, the US, and then in almost all countries. Travel and transportation restrictions came into effect. Sales dropped drastically, and so did global trade. In June, global cargo volumes began to sharply increase; firstly between Asia-USA, followed by Asia-South America and Asia-Oceania. In response, carriers quickly reinstated capacity in some trades, supporting the large increase in demand. However, as more trade lanes started to recover, the situation became difficult to handle.
The main causes are:
- Cause 1: Reduced number of available containers
- Cause 2: Congested ports
- Cause 3: Reduced number of operational vessels
- Cause 4: A changed flow of goods
Learn more about it in the video.
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