At year end of 2016 the Container shipping industry closed the year with an operating profit of around $1.5 Billion driven by higher freight rates and rapidly growing cargo demand. This was up graded in that forecast for 2017 to $5 Billion as a result of the uptick in pricing and demand through the first half of this year industry reports from the vast majority of the growth is coming from the major east-west trades where volumes are up sharply.
“Among the issues contributing to congestion is the new generation of mega vessels calling on Pacific Rim ports. These are the ships that are simply too massive to transit the newly expanded Panama Canal—which at first glance seems to be a good thing. But there’s some question as to whether the ports have the necessary analytics and infrastructure to accommodate such enormous inbound discharge.