The price of shipping containers from China to the US and Europe has skyrocketed in recent months. In March and April 2024, the average cost for a 40-foot high-cube container hovered around USD 1,700. By July, that price had more than doubled, reaching a staggering USD 3,600. This dramatic increase applies not only to the overall cost but also to pick-up charges, which have seen a similar upward trend.
The article cites strong freight demand from China, particularly for goods like motor vehicles and building materials, as a key driver of this price surge. Rising US retail inventories in these sectors suggest continued high demand for container shipping services originating from China.
This significant rise in container prices adds to the ongoing challenges faced by the global supply chain. Businesses that rely on maritime transport for imports and exports will likely be impacted by these increased costs.
Source: Logistics Insider