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Container prices spike as port authorities globally increase costs

Updated : December 14, 2020 14:45:48 IST

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.
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