Average container prices have declined by more than half in August compared with last year as China increases containerised trade volumes, according to analysis published by Container xChange.
In its monthly logistics report, ‘Where Are All The Containers’ Container xChange reports that one-way leasing rates for standard containers have fallen from a high of US$2,792 in September 2021 to US$906 in July 2022.
This figure is still way above the range of US$100 – US$300 prior to June 2021 but nevertheless will allow companies to plan cargo during the peak summer season.
Shippers are once again hoping that the exports will restore in full swing as the industry prepares for the peak season,” said Christian Roeloffs, co-founder and chief executive, Container xChange.
“Amidst this, there are more reasons for shippers to rejoice as the average container prices and one-way leasing rates in China show a downward trend at a time when shipping is historically at its peak in the country.
“The average container prices are more than halved as compared to the last year, in August. Clearly, this brings cheers to the shippers and forwarders hoping to ship cargo containers out of China,” he said.
Shanghai Container Availability index (CAx) indicates that the CAx is 0.58 in week 33 as compared to 0.52 in 2021, 0.32 in 2020 and 2019 (pre-pandemic). This could potentially mean that there are more containers in China with reduced prices, making it easier for shippers and freight forwarders to plan trips from China.
The data also shows a significant drop in the average per unit rates for 40HCs from China to Europe and North American countries. Canada is leading the fall with a 49.4% drop in the leasing rates between June and July, with the US at a 32.5% drop. For countries in Europe, the average one-way PU charges from China dropped by 16% in the UK, 13% in Germany, 18.4% in France, and 17.3% in Belgium.
Source: Port Strategy