The Chinese government announces measures to deal with the shipping crisis

According to a broadcast by China’s state television network CCTV, state-owned enterprises have been instructed to increase the number of ships and routes, and build new containers.

Shipping experts have been saying for weeks that the recent exorbitant price hikes would only start to reduce when new equipment was ready to come on stream, a measure which some observers felt the shipping conglomerates had appeared to be dragging their heels on, in order to maintain prices at their current levels for as long as possible.

If this broadcast information is accurate, it seems that the Chinese government has taken matters into its own hands in the short term. Whether the move comes soon enough to make a difference to peak season shipping situation this year is debatable, but it should help to stabilise prices as we head towards 2022.

It's great that the Chinese government is increasing vessels and extra routes and more and more containers. A state of emergency is kicking in. It had to be done.

We are looking forward it.