Shippers pick empty containers over steel scrap amid Christmas retail demand

Shipping lines are opting to bring empty containers from the United States to Asia instead of carrying ferrous scrap due to strong US demand for Asia-origin consumer products, market sources told Fastmarkets this week.

“This is due to the potential of ferrous scrap causing damage to containers and shippers running out of space to bring in consumer products. They can make more money on the Asia-US route instead if they cancel ferrous scrap cargoes bound for Asia,” a Taiwanese trader told Fastmarkets on Thursday November 26.

Demand for outbound containers from China, Vietnam and South Korea has increased, partially due to year-end holiday season, when gift-giving surges, sources said. The stronger demand is also attributed to the recovery of many economies from the effects of the Covid-19...

Published

Paul Lim

November 26, 2020

09:55 GMT

Singapore