A number of factors have caused a global shortage of shipping containers and has led shipping rates to rise exponentially. Covid-19 pandemic related restrictions on international trade led to a reduction in the number of active vessels in operation, which in turn led to fewer number of containers being picked up. That left many containers stuck at inland depots and ports such as in the US and China. This has impacted the turnaround time for containers and as it happens in such situations, a delay in shipments. The lack of availability of containers and delay in shipments has triggered an increase in freight rates.