Japan Times: Demand for Chinese goods creates shipping container shortage

Fri January, 2021, Age: 3 years

In another sign of China’s ability to economically weather the ongoing global pandemic, demand for China’s exports is so robust that it is causing a shortage of available shipping containers. The problem is compounded by the relatively small volume of Chinese imports. The shortage has increased shipping costs, potentially negatively impacting demand for Chinese goods going forward. Serena Zhou, a fixed-income analyst at Mizuho Financial Group Inc. in Hong Kong said that “soaring prices for China’s outward shipments due to a shortage of shipping capacity will weigh on China’s export growth, despite resilient external demand helped by the holiday season and factory lockdowns throughout Europe.”