The Surplus of Empty Shipping Containers Causing Container Prices Falling

The sagging demand for container shipping and the equipment turnover acceleration have resulted in the release of a significant share of the fleet and a container surplus.

According to the survey conducted by Container xChange, surplus containers have already filled some empty container depots.

According to Container xChange chief executive Christian Roeloffs, “there is just not enough depot space to accommodate all the containers. With the further release of container inventory into the market, for example from the disposal of leasing fleets, there will be added pressure on depots in the coming months.” He has also noted that this will become a problem for regional markets, while others - such as China - will receive an additional advantage.

According to Container xChange data, average container purchase prices and empty container leasing rates in China have already reached the bottom in the last two years. The rate for empty container repositioning from China to North America has decreased by more than 80% since the beginning of the year, and to Europe by 70%. Average container prices in the US are now 8% lower than in January, Europe – 34%, and China - 44% below the level in January.