Many countries may find it difficult to return to normal growth after the Covid-19 pandemic and accompanying lockdowns as long as the overheated container market continues, says Global Shippers' Forum (GSF) in a new report published in collaboration with MDS Transmodal.
The container market is strained by huge demand on goods from Asia to the US and Northern Europe in particular, which has generated a shortage of ships and equipment, such as containers, and pushed rates to unprecedented levels. Further, the lack of capacity causes delays and queues off several ports, a scenario that has been criticized several times by shippers.
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