Global shipping in a new crisis due to container surplus

The shipping industry was suffering from a shortage of steel containers during the peak Covid, but a decline in demand for goods and an imminent economic slowdown turned that shortage into a surplus.
Empty shipping containers are crowding shipping ports of the world and creating an unanticipated blockage in the global supply chain.
There is not enough depot space to take in all the containers and with the release of container inventory into the market from the removal of leasing fleets, there will be extra pressure on depots in the coming months.
Retailers already have enough inventory, and many stores are unwilling to order more goods than they have on hand, which is good for buyers but it’s not good for global freight as traders and shippers are giving containers away to reduce crowding at some ports, and are bypassing stops at other ports entirely.
Blank or canceled sailings grew by 14% as the year’s biggest spending period approaches.
A blank sailing occurs when a shipping company skips a port or an entire leg of its schedule to manage changes in demand and capacity.

Previous Next