Container shipping companies are investing in new capacity, but rates are likely to remain elevated amid the global shortage that has seen average container costs rise by three or four times, especially for material from Asia to Latin America, for Adam Yanelli for ICIS.
Freight rates on the riseOn Friday, German container ship owner Hapag-Lloyd announced that it has ordered 60,000 TEU (twenty-foot equivalent unit) of shipping containers in May on top of the 150,000 TEUs it ordered in April.
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