Why a shortage of shipping containers is threatening Ireland's economic recovery 

The world is facing a huge imbalance in the availability of shipping containers

The cost of a 40-foot container from Asia to northern European has increased from €1,700 in November to more than €7,500 now.

The surge in international container-shipping rates and air cargo rates, in recent months, has left Irish companies facing delays and mounting costs that risk bogging down a post-coronavirus economic recovery.

Soaring demand for Chinese goods, fuelled by pandemic-related purchases such as medical masks and work-at-home equipment, including computers, has been so strong in recent months that it has created a major shortage of containers globally, driving up shipping costs and potentially impeding Ireland’s exports in coming months.