- Hapag-Lloyd sees no let-up in tight shipping capacity
- the world economy is recovering and that boosts demand but is coinciding with clogged up ports caused by the coronavirus crisis
German container shipping line Hapag-Lloyd sees no let-up in tight shipping capacity this year which has driven up its net profit in the first six months nearly 10-fold, thanks to income from runaway freight rates says an article on Reuters.
Global fleet stretches
The infrastructure bottlenecks came as port waiting times lengthened due to labor shortages and traffic snarl-ups, leading to delays in returning empty containers, while the global fleet as such is already stretched.
Why shipping- capacity is tight
“The world economy is recovering and that boosts demand, which coincides with clogged up ports caused by the coronavirus crisis,” chief executive Rolf Habben Jansen told Reuters. “There is an imbalance between supply and demand and that’s why it remains tight,” he added.
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Source: Reuters
