An imbalance in global trade means that one in every three shipping containers is now moved without cargo.
According to analysis from Danish consultancy Sea-Intelligence, measured in teu-miles, 30% of all global container shipping work now involves repositioning empty boxes, up from 24% before the pandemic and 65% since the first quarter of 2019. During the same period, the number of full containers has grown only 17%. Sea-Intelligence calculates that shipping lines are now moving double the volume of empty containers, measured by distance, compared with before the pandemic.
The analysis highlights that the problem flows from unequal cargo between regions, obliging carriers to reposition empty containers to meet demand elsewhere. According to Sea-Intelligence, the data shows a growing challenge for shipping lines where the benefit of larger vessels is offset by the cost of global trade imbalances.
IAM Member Impact: Sea-Intelligence warned the trend has direct consequences for freight rates with shippers on the high-volume lanes carrying the “passed on” expenses of repositioning empty boxes.
Sources: Splash 247
Member Contributions: Arpin International