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China container maker reaping rewards as Suez Canal blockage adds to global shortage, demand set for record high

Summary:
[unable to retrieve full-text content]Worsened by the recent Suez Canal blockage, global demand for containers could hit a historic high this year, further pushing up costs of shipping, according to the world’s largest container manufacturer.During the coronavirus pandemic, the price of a 20-foot standard dry storage container (TEU) more than doubled from a year earlier to above US,500, and it is not expected to fall much for the rest of year, as demand for the containers and the cost of the raw materials needed to build them…

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[unable to retrieve full-text content]
Worsened by the recent Suez Canal blockage, global demand for containers could hit a historic high this year, further pushing up costs of shipping, according to the world’s largest container manufacturer.During the coronavirus pandemic, the price of a 20-foot standard dry storage container (TEU) more than doubled from a year earlier to above US$3,500, and it is not expected to fall much for the rest of year, as demand for the containers and the cost of the raw materials needed to build them…

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