Average container prices have declined by more than half from the last year in August as China picks up containerized trade volumes more recently, according to an analysis published Aug. 22 by Container xChange, a technology marketplace and operating platform for container logistic companies. The analysis is a part of the monthly container logistics report published by Container xChange titled “Where Are All The Containers?”
Average container prices halved from August 2021; leasing rates declined by 17% from June to July this year. Further, China to Canada one-way leasing rates decline at the highest rate by 49 per cent as compared to China to any other country.
The decline in average container prices and leasing rates offer good opportunities for shippers and freight forwarding companies to plan cargo, as the supply chain braces for the peak season, typically from July to September.
Trade in China was impacted in the first half of the year, but the containerized trade seems to have picked up since July (2022) according to the analysis put together by Container xChange.
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.
“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.
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