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The CEOs of three of the world’s leading global carriers – Ocean Network Express (ONE), Hapag-Lloyd and Maersk, have advised that it may take until the second half of 2021 before any normality returns to the container trade.
The CEO of ONE advised that some of the issues relate to terminal productivity in North America, which falls behind those in Asia by up to 50% due to fewer working hours. Customary working hours in North America are mismatched to those in Asia, creating a point of resistance in the cargo flow. Due to congestion at North American ports – most notably Long Beach and Los Angeles, where many ships are alongside or at anchor waiting to berth – they are running out of ships to load in Asia.
The CEO of Hapag-Lloyd advised that today’s strong volumes would continue for quite some time.
The tight availability of both containers and ships, combined with terminal delays, have created a perfect storm.
For more information, contact Debbie McGuire, Manager – Freight Solutions.
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