Drewry: Box shortage less acute in ?11

Drewry: Box shortage less acute in Æ11    The shortage of shipping containers should not be as severe this year as it was in 2010, said Drewry Supply Chain Advisors.
   In its publication Drewry Logistics Executive Briefing, the London-based consultant said production of containers resumed last year, but “has not yet been sufficient to bring worldwide availability to the required ratio of 1.9 containers per slot.” It also said new container prices have climbed to all time highs topping $3,000 per 40-foot containers.
   But it “does not expect the deficiency to be as acute as last year, when carriers were caught off guard by the rapid recovery in demand. Any impact is likely to be limited to backhaul trades where containers may be reluctant to let go of scarce equipment for low-paying cargo.
   “This time around shipping lines are likely to be better prepared but will use the opportunity to restore rates,” Drewry wrote.