Empty containers were left stranded in Europe and the US in the first half of 2020 when shipping lines cancelled hundreds of trips as coronavirus lockdowns caused a sudden slowdown in global trade. When western demand for Asian-made goods rebounded in the second half of the year, competition among shippers for available containers sent freight rates soaring by 300-500%. Freight cost increases will lead to inflationary pressure on consumer goods in 2021.
Empty containers were left stranded in Europe
