Global container shortage intensifies, is further price increase possible?

"The lack of freight space for containers is a huge issue right now and is driving up costs and prices for shippers around the world," a Singapore ferrous scrap dealer told a foreign data analytics firm on Thursday (September 2nd).

They were increasingly hesitant to offer cargo to buyers due to their inability to secure vessels to transport containers and supplies.
Taiwanese traders, on the other hand, said that the lack of ships has increased freight costs by 25% on the US-Taiwan route, with freight rates increasing by $10 per ton to around $50 last week.

This raised offers for containerized steel scrap HMS 1&2 (80:20 mix), US material, imports, cfr home port Taiwan from $445-450 per tonne cfr Taiwan to $452-455 on August 27. Buyers reluctantly paid $445-448 per tonne cfr Taiwan.