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Hapag-Lloyd CEO Says Container Crunch Could Resolve In Q2/Q3 – gCaptain gcaptain.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gcaptain.com Daily Mail and Mail on Sunday newspapers.
Share this article By Jacob Gronholt-Pedersen (Reuters) – High shipping rates are set to continue for at least several weeks, despite new coronavirus lockdowns in Europe, boosted by demand for furniture, exercise equipment and home improvement goods, shipping group Maersk ($AKMBY) said on Wednesday. A surge in demand from shoppers sheltering at home in a worsening COVID-19 pandemic has upended normal trade flows and triggered a spike in the cost of moving goods around. “There are simply not enough containers in the world to cope with the current demand,” Maersk’s Chief Commercial Officer Vincent Clerc told a media briefing. “We don’t really see a big change in demand, even with new lockdowns in Europe. The current high container demand will continue at least for some weeks,” he said. ....
The finance ministry said last week it saw 2020 exports hitting a record high. The transport ministry’s Maritime and Port Bureau said the shipping container shortage was most severe on U.S. routes, and that it had met Taiwanese shipping companies on Dec. 1 to discuss the problem and ensure trade can flow. While noting that freight rates were a commercial decision that follow market principles, shippers should not be trying to gouge customers, the bureau added. “In order to avoid unscrupulous operators taking the opportunity to drive up prices, the Maritime and Port Bureau has urged shipping companies to respond reasonably according to market supply and demand,” it said. ....