For months the world’s largest shipping groups have grappled with container shortages and a lack of berths in ports, as seesawing demand and Covid-19 heaped pressure on global logistics. Now another shortage is occupying the industry’s attention: that of the ships themselves.
Executives have warned that, despite a recent surge in orders for new vessels, the availability of container ships is likely to remain strained in coming years given soaring demand for their services and the complexity of retooling fleets for environmental reasons.
Xavier Destriau, chief financial officer of Israel’s Zim, one the world’s largest shipping groups, said that the tight supply of vessels posed “a potential major threat” given that many companies have hesitated until this year to order new capacity, while many old ships are overdue for scrapping.