According to a research released on August 22 by Container xChange, a digital marketplace and operating platform for container logistic enterprises, average container prices have decreased by more than half from the previous August as China increases the volume of containerized trade. The study is a section of Container xChange’s “Where Are All The Containers?” monthly container logistics report.
Average container costs have decreased by half since August 2021, and lease costs have decreased by 17% from June to July of this year. In addition, compared to leasing prices from China to any other country, leasing rates from China to Canada decrease at the largest pace, by 49%.
As the supply chain prepares for the peak season, which normally lasts from July to September, the drop in average container costs and leasing rates presents excellent chances for shippers and freight forwarding businesses to organize cargo.
The analysis conducted by Container xChange indicates that although trade in China was impacted in the first half of the year, containerized trade appears to have perked up since July (2022).
According to the Shanghai Container Availability Index (CAx), it was 0.58 in week 33 as opposed to 0.52 in 2021, 0.32 in 2020, and 0.19 in 2019. (pre-pandemic). It’s possible that additional containers with lower pricing are available in China as a result, which would make it simpler for shippers and freight forwarders to arrange journeys from China.
“This is the peak shipping season, and the industry expects heavy outflow of containers from China to fulfil orders from demand centers. This year, we haven’t witnessed two key trends that are a norm during this time in previous years – a rise in leasing rates and container prices in China and a decline in CAx values,” said Christian Roeloffs, Co-founder and CEO, Container xChange.
Source: Container xChange