Container shortage likely to continue

Japan's major logistics companies don't expect the worldwide shortage of shipping containers to end anytime soon.

NYK Line, Mitsui O.S.K. Lines and Kawasaki Kisen Kaisha shared their views on the situation in their corporate earnings announcements.

Various factors are behind the shortage, including an increase in online shopping during the pandemic, and the resumption of economic activities.

The companies say cargo shipments will continue, especially to and from China and the US.

NYK Line executive officer Maruyama Toru said, "It won't be easy to get the supply chain moving smoothly by the end of this year, or even by the Lunar New Year in February."

The three companies revised upward their earnings forecasts for the fiscal year ending March thanks to rising freight rates. They now project net profits to jump from the previous fiscal year by between 240 and 430 percent.