With congestion at the ports and demand not dropping, big players in the shipping industry are ordering more containers to ease pressure. Hapag-Lloyd ordered another 75,000 TEU worth of containers from China, where most containers are being produced. Hapag-Lloyd’s move comes at a time when container prices are at an all time high.
Regarding the situation, Rolf Habben Jansen, CEO of Hapag-Lloyd, said: “While the normal turnaround time for our containers lies at 50 days, we currently need up to 60 days and more due to massive congestion at ports, terminals and inland operations worldwide.”
Since 2020, Hapag-Lloyd has invested in over 650,000 TEU worth of containers, bringing up a fleet worth around 2.8 million TEU.