China's container trade and leasing prices have both fallen sharply

        Container xChange is a logistics technology company that focuses on container trading and leasing. Its container price data trends and insights after the Golden Week show that China's average standard container price has fallen sharply, both for trading and leasing.

        Christian Roeloff, the co-founder and CEO of this neutral online marketplace, commented: “As one-way leasing fees, spot rates and other freight rates begin to stabilize, and the average standard container price declines for the first time in a few weeks, we are experiencing the market. The situation has improved.

        "Although we still haven't seen the market's further reaction to US importer inventories in the next few months, these are good signs of a market correction. If house prices don't fall further, it may just be a temporary drop due to the Golden Week. "

         Dr. Johannes Schlingemeier, co-founder and CEO of Container xChange, said: “The drop in prices temporarily eased the global container shortage crisis. This trend is likely to continue because we have passed half of the busiest period in the shipping industry. Retailers are planning to hoard inventory before the Christmas holidays, and the fall in prices is likely to become the new normal from then on. This may be an early sign that the market is stabilizing. We will continue to monitor prices and supply, but for now, it’s right. Good news for the industry."

　　 China’s average transaction price dropped by 22%

　　Container xChange data shows that the average transaction price of 40 high cubic containers in China began to fall from the 39th week, just before the Golden Week. From 8516 US dollars in the 39th week to 6598 US dollars in the 42nd week, a decline of 22.5%, China's largest decline this year. The peak has reached 8576 US dollars, an increase of 52% over the 27th week (the first week of July).

At different ports in China, the average transaction price of 40 high cubic containers fell from 1% to 11%. Qingdao fell 11% from the previous month, the largest drop. Ningbo fell 2%, Shanghai fell 3.4%, and Shenzhen fell 1.7%. , Tianjin fell 0.5%.

　　 The average cost of a 20-foot dry container is now US$3,000, which has stabilized from US$3017 in early September. Compared with last week, the average price of 20-foot dry containers in Shanghai Port (from US$3,359 to US$2,847), Qingdao Port (from US$2,982 to US$2,794) and Ningbo Port (from US$4,300 to US$3,940) has decreased.

　　According to the data of the platform, the average container price of 46 ports around the world has declined moderately. Hot spots include China, Vietnam and the United States. The company pointed out that all these price drops indicate an improvement in the congestion that has led to soaring global freight rates.

　　 China’s leasing rate dropped by 35%

Container xChange's data also highlights that the average single-line rental fee for the Sino-US segment fell from US$2767 to US$1,800 within a week (from the 39th week to the 40th week), a decrease of 35%, the highest single-line rental fee for this segment this year. Record. Similarly, in some European ports except China (Hungary, Netherlands, Slovakia) and the Russian Federation, these tax rates have also fallen.

　　 The average one-way car rental fee dropped from US$3,931 to US$3,621. From the 39th to the 40th week, the car rental fee from China to the UK dropped by 8%. Similarly, China's exports to Belgium fell from US$3646 to US$3450 during the same period, a decrease of 5.4%.

　　 Although demand will continue to remain strong as retailers plan to fill up their inventory before the Christmas holidays, overall prices are also expected to remain strong. Container xChange concluded that this situation is more likely to improve further after the Chinese New Year in early November and February 2022.