InsiderEconomyShips transferring containers are sold out; problems to the market

Ships transferring containers are sold out; problems to the market

It is almost impossible to find a ship to transfer containers while the serious problems of congestion in the ports internationally still persist.

Senior analyst of Alphaliner Jan Tiedemann said that most ships are sold out while analyst of Jefferies, Randy Giveans said that 150,000-200,000 dollars daily are paid for trips that last 30-45 days.

This is leading companies to purchase second hand vessels, the price of which have skyrocketed.

As an example he mentioned that the Mediterranean Shipping Company has purchased around 120 second hand vessels in the last 365 days.

It is noted that the main reasons for the congestion the ports is the huge demand due to the pandemic, the bad weather in China and the lockdowns.

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