File picture of a container terminal at Port of Hamburg. The cost of shipping goods from China to Europe by water have hit unprecedented highs recently, said UniCredit Bank economist Andreas Rees. – AFPPIXMaritime container freight shipping is steaming ahead through the Covid-19 pandemic, boosted by strong demand for Chinese exports and a shortage of vessels according to industry experts.
"The costs of shipping goods from China to Europe by water have hit unprecedented highs recently," said UniCredit Bank economist Andreas Rees. That has had a knock-on effect on demand for the gigantic container ships that transport vast amounts of goods from the Asian powerhouse. The turnaround time between unloading a container ship and returning has therefore increased significantly, according to Roach. That further limits the available pool of vessels.