The Suez Canal, a major waterway for global trade connecting the Mediterranean Sea and the Red Sea, reopened on Monday after the Ever Given container ship had blocked it for nearly a week. Photo: TNS
The Suez Canal, a major waterway for global trade connecting the Mediterranean Sea and the Red Sea, reopened on Monday after the Ever Given container ship had blocked it for nearly a week. Photo: TNS
Trade
Economy /  China Economy

China container maker reaping rewards as Suez Canal blockage adds to global shortage, demand set for record high

  • China International Marine Containers (CIMC) has seen the price of their 20-foot standard container (TEU) more than double from a year earlier to above US$3,500
  • The blockage of the Suez Canal by the Ever Given ultra-large container ship has created a backlog of hundreds of vessels, which is set to further exacerbate global container shortages

Sidney Leng
Sidney Leng

Updated: 10:30pm, 31 Mar, 2021

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The Suez Canal, a major waterway for global trade connecting the Mediterranean Sea and the Red Sea, reopened on Monday after the Ever Given container ship had blocked it for nearly a week. Photo: TNS
The Suez Canal, a major waterway for global trade connecting the Mediterranean Sea and the Red Sea, reopened on Monday after the Ever Given container ship had blocked it for nearly a week. Photo: TNS
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