Reported about 1 year ago
Due to the Red Sea crisis affecting sailings and causing global port congestion, demand in the container market remains strong, resulting in the Shanghai Containerized Freight Index (SCFI) rising by 4.6% last Friday, marking a ninth consecutive increase and reaching a new high since August 2022. International container carriers are predicting a worsening container shortage in the coming weeks and months, with containers virtually impossible to find in the expected locations due to various factors including the impact of the crisis and increased demand surpassing available containers.
Source: YAHOO