“Container Glut”: Chinese Ports Overflowing with Surplus Inventory as Shipping Demand Slows
The container industry has shifted from a shortage to a glut, as Chinese ports overflow with empty containers due to plummeting orders for manufactured goods. The average shipping rate for 40-foot containers has dropped 81%, and container oversupply is estimated to reach 6 million TEUs. Falling cargo volumes have resulted in excess shipping capacity, and the buildup of empty containers in ports indicates a slowing market. Surplus inventory will take at least a year to return to normal.
Source of information – Container news
