Shipping's container chaos to continue, DP World exec says
Published: Wednesday, 02 June 2021
The chaos being experienced in the global container shipping industry is expected to continue for some time with a shortage of an estimated four million boxes creating havoc with congestion, routes and freight rates, according to an executive at logistics conglomerate DP World.
By Andrea Hotter
Andrew Hoad told the Bureau of International
Recycling’s (BIR) annual convention that shipping
and leasing companies opted to pause production of containers
in April-June 2020 due to expectations of lower demand during
the Covid-19 pandemic.
This meant that around 1.0 million twenty-foot equivalent
units (TEU) of...