Hapag-Lloyd shelling out more than half a billion dollars for containers

Hapag-Lloyd has ordered 150,000 twenty-foot equivalent units (TEUs) in an effort to combat slow turn times. The cost — about $550 million — represents one of the German ocean carrier’s largest container orders ever.

Import surges at U.S. ports, labor shortages caused by COVID-19 outbreaks and severe port congestion, particularly on the West Coast, all have contributed to a slow turnaround of containers to be sent empty back to Asia to be refilled.

Hapag-Lloyd said in the announcement it “needs...

https://www.freightwaves.com/news/hapag-lloyd-shelling-out-more-than-half-a-billion-dollars-for-containers

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