The cost of a 40-foot high cube cargo-friendly containers in China increased to $3,600 this week. It is the highest price for two years. The figure is a 111 percentage increase from prices that were recorded between March and April 2024. These prices were at around $1700. In parallel, the typical single-trip pick-up fees for leasing these containers have experienced the most rapid growth all through the month of June.

Christian Roeloffs, cofounder and Director of Container xChange, highlighted the effect of these developments on the market “While rates and prices are rising however, the number of transactions have been reduced because buyers have become more preoccupied. This could indicate the possibility of a price decline within the next few months in the process of adjusting to the disruptions that are currently taking place as well as the extreme rates of uncertainty.”

In addition, the rates for leasing in China into Europe have witnessed a dramatic increase. The cost of pick-up for Shanghai to Rotterdam increased from $500 in November 2023, to USD 1,700. Similar to that, the rates for Hamburg are now at US$2,030 and for Antwerp at US$1,888 on 23 June 2024.

Source: container-news.com