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videos | IST

Container prices spike as port authorities globally increase costs

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Shipping container prices are on the rise as port authorities, globally, are increasing landing and operating costs.

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.