As parts of the world rebounded from the pandemic, a flurry of spending led to a shortfall of containers. That drove up prices and created massive delays in shipping goods from Asia to elsewhere. JPMorgan said the demand for goods has continued to be supported by an improving global economic outlook.
Research firm TS Lombard noted that commodities have surged as Chinese demand recovered. Demand for commodities from oil to lumber to corn has shot up this year as economies reopened and vaccination rates climbed although prices have been volatile recently. Shipowners are benefitting from the booming commodity trade. Vessel earnings have been at their highest level in a decade so far in 2021 … owing to the rebound in trade volumes, particular minerals and grains into Asia, as well as to strong restocking of iron-ore and coal inventories by China, the firm said.