Chinese media outlet Kuaikeji reported on the 15th that the rapid increase in China's automobile exports is bringing an unexpected problem of ship shortages to the global automobile shipping industry.

According to the article, China's export volume of passenger cars and box-type commercial vehicles, which was less than 600,000 units in 2019, is predicted to reach 10 million units this year.

While the number of car carriers owned globally has increased by 40% in the past few years, it has not kept pace with the expansion of transportation demand.

In June, the charter rate for a 1-year contract for large car carriers reached 70,000 dollars per day (approximately 11.13 million yen), an increase of about 65% compared to the end of the previous year, and ocean shipping fees for automobiles also rose to about twice the pre-COVID-19 pandemic levels. It is said that transportation slots on some ships are booked for several years in advance.

While some Chinese automakers are forced to use more costly container ship transportation, major manufacturers such as BYD, SAIC, and Chery are making moves to build their own RORO fleets.

According to Lasse Kristoffersen, CEO of Wallenius Wilhelmsen, one of the world's largest shipping and vehicle logistics groups, China's car exports are accelerating at an "unprecedented" pace, and the demand for vehicle transportation is surging at an astonishing rate.