transport

Shipping containers are measured in “twenty-foot equivalent units“, with the capacity of ships and warehouses given in TEU. As of ~2018 the largest containers ships can hold about 22,000 TEUs- and globally there are 5,222 ships as of April 2018 that can carry a total of 21.5 million TEUs. (Stats from Costamare, Inc.)

Photo by Ian Taylor on Unsplash

In Q2 2020, owners ordered 98 container ships, representing additional capacity of 1M TEU. The covid-19 impacts (labor, social distancing,etc.) led to a 40% reduction in U.S. warehouse labor supply, slowing warehouses ability to process (turn) containers.