We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
  • INDUSTRY PRESS ROOM
  • ABOUT
  • CONTACT
  • MEDIA FILE
  • Create Account
  • Sign In
  • Sign Out
  • My Account
Free Newsletters
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
  • MAGAZINE
    • Current Issue
    • Archives
    • Digital Edition
    • Subscribe
    • Newsletters
    • Mobile Apps
  • TRANSPORTATION
  • MATERIAL HANDLING
  • TECHNOLOGY
  • LIFT TRUCKS
  • PODCAST ETC
    • Podcast
    • Webcasts
    • Blogs
      • One-Off Sound Off
      • Global Logistics and Risk
      • Empowering Your Performance Edge
      • Analytics & Big Data
      • Submit your blog post
    • Events
    • White Papers
    • Industry Press Room
      • Upload Your News
    • New Products
      • Upload Your Product News
    • Conference Guides
    • Conference Reports
    • Newsletters
    • Mobile Apps
  • DCV-TV
    • DCV-TV 1: News
    • DCV-TV 2: Case Studies
    • DCV-TV 3: Webcasts
    • DCV-TV 4: Viewer Contributed
    • DCV-TV 5: Solution Profiles
    • Parcel Forum 2022
    • MODEX 2022
    • Upload Your Video
Home » Shortage of ocean containers shows no sign of easing

Shortage of ocean containers shows no sign of easing

Ripple effect of Suez Canal jam could tighten markets further in coming weeks, Container xChange says.

April 19, 2021
DC Velocity Staff
No Comments

As stacks of global inventory continue to be stuck in congested seaports, shippers searching for scarce containers are driving up prices for the steel boxes, a new report shows.

The international shortage of shipping containers shows no sign of stopping, months after it was triggered by supply chain wrinkles like the U.S. trade war with China, demand pulses during the pandemic, and the Suez Canal traffic jam caused by Evergreen Line Corp.’s “Ever Given” containership.

As is true for most commodities, that shortage has caused prices to rise, according to Container xChange, the Hamburg, Germany-based platform for the leasing and trading of shipping containers. 

In China, average prices for used twenty-foot containers increased 94% between November 2020 and March 2021, jumping from $1,299 per box in November last year to $2,521 in March, the firm said. Prices have also jumped in India, where average prices for used twenty-foot containers rose 58% between June 2020 and March 2021, increasing from $1,106 to $1,755.

“The relentless pace of container shipping trade since the summer of 2020 is not easing and this is reflected in equipment shortages in Asia, and elsewhere. We expect markets will tighten even further in the coming weeks as the ripple effect of the Suez Canal closure at the end of March further disrupts container shipping services and equipment availability,” Container xChange CEO & Founder Johannes Schlingmeier said in a release.

The situation has even pushed the cost of procuring a used ocean container beyond what was previously considered a “normal” price for a newbuild container, the firm said. “It always depends on the exact equipment type, but before shortages became critical, a standard used container which was a few years old would cost around $1,000 in China, while a brand-new container would be about double the price,” Schlingmeier said.

Maritime & Ocean
KEYWORDS Container xChange
  • Related Articles

    No Sign Of Slowdown For US Industrial Market In 2018

    No shortage of railroad-inspired songs

    Yusen introduces double-stacking of product in ocean containers

Recent Articles by DC Velocity Staff

Intermodal sector weathered a “challenging” year in 2022, IANA says

Nocturnal robots stock store shelves

From sea to … shining stars?

You must login or register in order to post a comment.

Report Abusive Comment

Most Popular Articles

  • Schneider welcomes first battery-electric truck

  • Fred Smith is not worried about Amazon

  • Outlook 2023: What’s in store for logistics/supply chain?

  • RJW LOGISTICS GROUP EXPANDS RETAIL LOGISTICS OPERATION TO DALLAS

  • Ports, maritime operators see tide turning as ocean freight tsunami subsides

Now Playing on DCV-TV

5afe63a5 7125 4318 b851 1e5738df1c91

Patterson Fan Co. | HVLS V-Series Ceiling Fan | Staging Area Air Movement

DCV-TV 4: Viewer Contributed
The Patterson V-Series is a high-volume, low-speed industrial ceiling fan that is designed to circulate a lot of air at a very low speed. ​These fans, ranging in diameters of 8’ all the way to 24’, are perfect for large, open spaces such as staging and shipping areas. One 24’ fan can generate a cooling effect of 6...

FEATURED WHITE PAPERS

  • The five best applications for robotic lift trucks in warehouse environments

  • Fulfillment Facility Improved Efficiencies by 4x

  • 3PLs: Complete Orders Faster with Flexible Automation

  • Reusable Packaging for the New Wave of Supply Chain Automation

View More

Subscribe to DC Velocity Magazine

GET YOUR FREE SUBSCRIPTION
  • SUBSCRIBE
  • NEWSLETTERS
  • ADVERTISING
  • CUSTOMER CARE
  • CONTACT
  • ABOUT
  • STAFF
  • PRIVACY POLICY

Copyright ©2023. All Rights ReservedDesign, CMS, Hosting & Web Development :: ePublishing