Shipping container prices are on the rise as port authorities, globally, are increasing landing and operating costs.
There is a large number of shipping containers currently piled up at ports across the world due to a cascading effect of blank sailing. Blank sailing is when a vessel is unable to load or offload cargo at a port or a region simply because port authorities there do not have the operational bandwidth to enable them to do so.
As a result, port authorities are seeing their operational and landing cost go up significantly, which in turn is being passed on to freight players.
For more details, watch the video.