A shortage of car-moving ships has pushed up shipping prices to record levels and limited the flow of electric vehicle exports from China to Europe.
Shipping companies scrapped older vessels during 2020, when car factories worldwide were idled owing to the pandemic, while many replacement vehicle carriers are not expected to be ready for another three years.
Yet the faster than expected return of worldwide auto demand, coupled with a sharp Chinese export push, has left the industry facing shortages of key vessels.
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