Surprise, surprise:
Maybe time to look closer to home for the cause of the problem?:
But at least they can still blame their other favourite scapegoat; CHINA!!!
Some wants to blame inflation on the high freight rates, but here is a different view:
It’s the topic that has sparked the most debate in the container sector all month – just where is the floor for rates?
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Limited scrap potential as tonnage overhang imminent - Container News (container-news.com)
Smaller Containerships Most Likely to Face the Chopping Block (gcaptain.com)
Meanwhile MSC is building more mega ships with conventional propulsion:
What a difference a year makes…
[From the article]
… the ship backlog off the West Coast continues to dwindle. There were eight container vessels in the queue off Los Angeles/Long Beach. On Thursday, there were only six, tying the record low hit three times previously in the past three weeks. Los Angeles/Long Beach used to be the epicenter of the container-ship traffic jam, with a peak of 109 vessels waiting on Jan. 9…There were 13 ships waiting for berths in Oakland, California, on Friday. The queue off Vancouver, British Columbia, was down to six, with none waiting off Seattle/Tacoma…
Amazing how what is a cause celebre and forum-fodder one year fades into obscurity the next.
Any stevedoring company or trucking company who bought expensive chassis to handle the container glut had better have paid them off in a year.
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From feast to famine is but a short step in shipping:
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Most of these containers will probably get stuck somewhere due to gridlock and need replacement. Good business model for the manufacturers.
Back to normal?:
What a difference a few months can make in Shipping:
Container shipping is doing better in some segments and areas than in the Main-line /East-West trade: