With the global economic recovery, trade demand in various countries has surged, causing prices on some shipping routes to increase by nearly 10 times, resulting in a severe shortage of containers in the market. Zhao Chongjiu, Vice Minister of Transport, responded at a press conference held by the State Council Information Office on the 24th, stating that the price increases are generally determined by supply and demand imbalances. With the improvement of the epidemic situation and the resumption of work and production in various countries, the situation will gradually return to normal.

Industry anxiety further fueled the surge in container prices. In the first half of 2020, the price of a 20-foot container was US\$1600; now, the highest price has reached US\$3600, while the price of the popular 40-foot container has risen to US\$5950. Prices have doubled across the board, hitting record highs.

An international freight operator told Hai Bao News reporters that since the middle of last year, sea freight prices have risen sharply, and transportation times have doubled, causing many customers to choose rail transport for their shipments, leading to a surge in demand for rail transport.

However, due to limited rail transport capacity and the ongoing impact of the epidemic, the operator stated that rail transport also faces congestion and backlog at ports, with goods unable to be shipped out even after arriving at the station.

However, rail freight accounts for only a small share of total transport volume. The reporter noted that according to January data, the Yangshan Port alone handled nearly 2 million 20-foot containers. In contrast, the total volume of rail transported containers in January and February was 209,000.