On August 30, CIMC held its 2021 interim results briefing at its headquarters in Shenzhen. Mai Boliang, Chairman and CEO of CIMC, gave his judgment on the most concerned development prospect of the container industry. He stated that the severe container shortage would likely continue until the first half of next year. The company will do its utmost to guarantee the supply of new containers and ease the tight supply situation.
Freight rates hit record highs, and cargo volumes on trans-Pacific trade routes exceeded all previous levels. The booming container shipping market pushed the global capacity of new container ship orders to more than double in less than eight months this year. Nevertheless, shipping industry executives warned that container vessel supply would remain tight in the coming years amid surging market demand and fleet renewal needs.
Surge in New Ship Orders Leads to Vessel Shortage
