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The high increase of container shipping fees in China

According to analysts, the price of shipping containers in this country will continue to increase in the next time, which is the context of a dramatic increase in global trade demand.

THE HIGH INCREASE OF CONTAINER SHIPPING FEES IN CHINA - SEA DRAGON 3

According to Container xChange's expectation, the cost will increase more seriously in the following weeks because of closing a train station in Ning Bo port (China), the world's largest port in terms of cargo tonnage. This station must be temporarily closed from 11 August because one employee tested positive for the Delta variant.

Container xChange expects that the situation in Ningbo and the productivity of ports in Vietnam will decrease due to the recent outbreak of the disease. The number of containers decreasing will push up shipping prices in the East Sea area in the future.

In addition, the closure of Mishan port (Sichuan, China) and surrounding areas has caused container prices at Ningbo port to skyrocket, much more expensive than Shanghai port, Qingdao port, according to Container xChange.

Johannes Schlingmeier, the co-founder of Container xChange, says that the closure of ports will determine the fad of container rates in the future.

 Exporters in Vietnam and some major exporting countries in Asia are in a "race" to find available containers to load. While in the US, Europe, and Australia, empty containers are lying at ports due to delayed cargo.

However, industry insiders expressed concern about an oversupply of containers after the pandemic ends. Prices of specialized containers, including refrigerated containers, containers for transporting liquids, gases, powders, are expected to increase further. The shipping price of these items is forecasted to adjust in the next few years.