(STR/World Trade Interactive)
Two Federal Maritime Commission officials recently told a House subcommittee that while vessel carriers are beginning to increase their capacity for carrying imports and exports there continues to be a shortage of cargo containers available to U.S. exporters. The FMC is currently conducting an investigation into these issues, prompted by concerns that an effort to double U.S. exports over the next five years could be hindered by a decline in the availability of vessels and containers associated with the recent global economic downturn.
Commissioner Rebecca Dye, who is leading the FMC’s investigation, told the House Transportation and Infrastructure Subcommittee on Coast Guard and Maritime Transportation June 30 that earlier this year import volumes rebounding from a dramatic decline in 2008 and 2009 “collided with previous vessel capacity reductions,” resulting in a “supply and demand mismatch” that created serious supply chain disruptions for U.S. importers and exporters. In recent months some carriers have announced decisions to increase vessel capacity in several U.S. trade lanes, particularly the U.S.-Asia trades, but there is concern that “growth in demand for container imports and exports in the upcoming peak shipping season may strain current vessel capacity.” Read more here.
