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Why is there a shortage of shipping containers?
Simply put the shortage of containers is the result of China and other manufacturing countries exporting goods to North America and Europe; while those countries do not have enough goods to send back. This results in empty containers sitting in some countries and shortages in others.
No Easy Solution To Global Container Shortage
Below is an excerpt from a great article discussing the reason for the world wide container shortage. Following the link below for the full article.
Reason for shortage The shortage of containers is due to the rebound in economic activities in China, as well as the peak period demand for goods in the US and European markets owing to the Christmas and New Year holidays. At the same time, demand for American and European goods from Asian markets has been weak, which led to an uneven trade flow.
A Temporary Solution
To mitigate the serious container imbalance, ocean freight carriers have adopted an aggressive strategy for European and US exports, temporarily suspending bookings, preferring to fill backhaul ships with as much empty containers as possible. Though this is a minor solution to a big problem, at least ideas are being implemented to fix the problem.
To deter all but the most valuable cargo, European exporters to Asia are being asked to pay in excess of $5,000 per 40ft to secure a shipment.
Every 1 in 3 containers globally is moved empty.
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