Demand for Chinese Goods Is So Strong There’s a Container Shortage
January 8, 2021
(Bloomberg) Global demand for Chinese goods has been so strong recently it’s creating a shortage of containers and driving up shipping costs, potentially impeding the nation’s exports in coming months.
Exports have been on a tear since July last year, fueled by pandemic-related purchases like medical masks and work-at-home equipment, including computers. Imports haven’t been growing at nearly the same pace, resulting in a lack of shipping containers returning to China to be refilled and sent out again.
The cost of shipping a 40-foot container to Los Angeles from Shanghai has almost doubled from early June, while the price to send the same box to Rotterdam is now four times higher.
To Read More: https://www.bloomberg.com/amp/news/articles/2021-01-07/soaring-shipping-costs-could-curb-china-s-export-boom
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