Shipping Container shortage
The world’s biggest shipping container line announced a shortage of shipping container, as demand increases to unexpectedly high levels after the slow-down in world trade last year. Shipping is now entering the peak season, and lines are now instituting peak season surcharges on freight rates from Asia to Europe. Demand is expected to be very strong in the third quarter of the year. Exports from Asia usually slacken off after the Chinese New Year, but this year has been an exception, possibly due to pent-up demand after the recession.