The average price for 40 ft high cube cargo-worthy containers in China has escalated to US$3,600 this week, marking the highest point in two years. This figure represents a 112% increase from the prices recorded in March – April 2024, which stood at approximately US$1,700. Concurrently, the average one-way pick-up charges for leasing these containers have seen a rapid increase throughout June 2024.
Christian Roeloffs, cofounder and CEO of Container xChange, highlighted the impact of these changes on the market: "While prices and rates are significantly up, trading volumes have decreased as buyers are becoming more cautious. This trend potentially indicates a potential reversal of prices in the near future, as the market adjusts to the current disruptions and the high levels of volatility."
Notably, leasing rates from China to Europe have experienced a significant uptick. The average pick-up charges from Shanghai to Rotterdam have tripled from US$500 in November 2023 to US$1,700. Similarly, rates to Hamburg have reached US$2,030, and to Antwerp, US$1,888 as of 23 June 2024.
Source: container-news.com