Buying frenzy leads to a shortage of containers in China: prices through the roof

Container shipping companies are struggling with a severe shortage of sea containers in China to meet the enormous demand for transport capacity. As a result, the price of sea freight from Asia has increased fivefold, while waiting times have increased by sometimes months.

The transport of sea containers is in a perfect storm due to the corona crisis. Due to the fact that people cannot go to bars and restaurants nor go on distant holidays, has shifted the spending pattern to consumption of goods. People are spending more on electronica, furniture, electric bicycles, sneakers and other more luxury goods.