Container shortages, which have been adding to logistics logjams in Asia and beyond, are showing few signs of being resolved, according to the latest data from Container exchange, a global online platform for the leasing and trading of shipping containers.
The latest Container Availability Index (CAx) data of Hamburg-based Container exchange also reveals that equipment shortages are driving up container prices at major Indian ports. Between June 2020 and March 2021, the average used 20-foot container prices across the ports of Chennai, Mundra and Nhava Sheva rose 58 per cent to $1,755 from $1,106.
Chennai was the most expensive port to buy used containers in March 2021, with an average price of $2,220 per 20-foot container. Average prices in March at Nhava Sheva were $1,667 per 20-foot container. Mundra was the cheapest location in India to procure a used box with an average price of $1,455.
“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,” said Dr Johannes Schlingmeier, CEO and Founder of Container exchange.
“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,” he added. “It alwa