Bearish container shipping demand hits container prices and leasing rates across Europe
Excess containers stranded across Europe are causing congestion bottlenecks and space shortages at ports, warehouses, and storage yards, according to the March edition of the Europe Container Market Forecaster, published by Container xChange.
The online logistics company estimates that container overcapacity currently amounts to between three and five million TEUs (Twenty-foot Equivalent Unit). As well as causing storage shortages, the excess of containers is now putting substantial downward pressure on box prices and leasing rates across the continent.
