Amidst the gloom of supply chain woes, congestion at the ports and worries about stores running out of gifts during the Christmas season, here’s one reason for a small cheer: container prices are easing as China resumes activities post the Golden Week.
As many as 46 ports globally experienced a moderate pullback in average container prices, according to Container xChange, a marketplace for container leasing and trading.
The hotspots include China, Vietnam, and the United States. Price falls indicate improvement in congestion that caused skyrocketing freight costs all over the world, the exchange said.
“We are experiencing improvement in the market situation as the one-way leasing charges, spot rates and other freight costs are starting to stabilise and average standard container prices are witnessing a drop for the first time in many weeks," said Christian Roeloffs, founder and CEO, Container xChange. "Though we are still yet to see how the market responds further to inventory stocking by US importers in the coming months, these are good signs of market correction. The drop in prices could also possibly be only a temporary decline because of the Golden Week in China if the prices do not decline further.”
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