Container Prices Surge In Europe As Carriers Favour Loading Empties
For European exporters looking to source shipping containers, existing shortages could deteriorate significantly in the coming weeks, according to the latest data from Container xChange, the world’s leading online platform for the leasing and trading of shipping containers.
Most pricing and availability indicators now suggest carriers are continuing to favour shipping empties back to Asia as fast as possible to maximise yields on front-haul services rather than wait for less lucrative backhaul loads.
The upshot for shippers is rapidly rising prices in Europe for containers even though CAx availability readings point to higher availability of boxes in European hubs – Container xChange figures do not track empty moves.
Container xChange: Suez Canal closureincreases the pressure on Europe’s ports
The anticipated box crunch at European ports following the closure of the Suez Canal at the end of March has been less severe than expected, according to Container xChange.
However, Europe’s leading box hubs are still receiving far more boxes than are departing. The average CAx reading of incoming 20 foot dry-containers across three of Europe s biggest ports – Rotterdam, Antwerp and Hamburg – climbed just 3% in week 17 compared to the week before.
At Rotterdam, the increase in incoming 20 ft. dry containers was most stark, with box numbers rising +3.75% week-on-week. At Antwerp the week-on-week increase was +3.5%, while at Hamburg it was +2.2%.
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