Hapag-Lloyd raises box order to counteract the container shortage

“The sharp increase in demand has led to a shortage of containers across the world. Severe imbalances — such as with exports from Asia but also owing to congestion in ports and delays in hinterland transports — are causing containers to be tied up in transit for considerably longer periods of time. More boxes are currently needed overall to manage the same transport volume,” Hapag-Lloyd said in its announcement Wednesday.

Just last month Hapag-Lloyd said it had ordered 150,000 TEUs of standard and refrigerated containers from a Chinese manufacturer to be delivered this year. The majority of the containers are expected to be delivered in the third quarter.