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Demand for container shipping is soaring, and driving cargo prices ever higher.

But that brings its own problems.

On Wednesday (May 5) shipping giant Maersk said it enjoyed an 'exceptionally strong' first quarter.

It confirmed a 30% rise in revenue flagged in earlier preliminary results.

The gain comes as manufacturers battle to ship their goods from China to the U.S.

That as demand recovers and inventories are restocked after last year's slump.

Maersk says the global shipping industry doesn't have enough containers to go around, resulting in record freight rates.

Imports into North America from Asia rose 40% in the first three months of the year.

Maersk boss Soren Skou says container ships are now waiting 16 days outside Los Angeles port before they can unload.

Sportswear brand Puma is just one to say they face trouble getting goods to market.

Shipping is also still feeling effects of the earlier drama in the Suez Canal.

It was blocked for several days in March after a huge container vessel became stuck.

Maersk at one point had 50 container ships waiting to pass, and says it will be next month before the backlog is totally cleared.

The Danish firm - which handles one in five of all containers shipped worldwide - expects the strong demand to continue into the fourth quarter.

Maersk shares jumped around 5% on Wednesday morning.