Equipment shortages could impact the container shipping sector for up to two years, a major logistics company told IFW. Claus Schensema, MD of GAC Forwarding & Shipping (Shanghai), said the shortages were now a more acute issue than rates for many shippers.

Alwyn Mendonca, MD of GAC Hong Kong, said the rebound in container shipping demand had been so rapid that the entire industry had been caught off balance. This contributed to a doubling of some rates since the beginning of the year.

Mr Mendonca went on to quote researchers who suggest that 6m new containers are needed, equivalent to about two years of production. “Hence, in spite of carriers now placing orders for new containers, there is very little hope that the current shortage is going to get better,” he said.