BAKU, Azerbaijan, Aug.11
By Sadraddin Aghjayev – Trend:
Prices of some shipping containers will continue rising at a moderate pace over the next few years, the UK Drewry consulting agency said in the Container Census and Leasing Annual Review and Forecast 2021-2022 report, Trend reports on Aug.11.
According to the agency, over the past year, the prices of the containers have doubled, and the prices of newly build containers in 2020 have increased by 75 percent compared to 2019.
This figure has reached its highest level since 2011. Since the second quarter of last year, the cost of a new 40-foot container has exceeded $6,500, which is historically high since 1998, the agency noted.
Besides, the agency said that this pricing has been driven by soaring demand for newly build containers as shipping lines and lessors have been seeking to rebuild the container fleet amid shortages due to disruption across the container supply chain.
The container prices are expected to peak in the third quarter of 2021 and then decline. In the coming years, prices will soften as trade normalizes, Drewry said.
As the agency reminded, for reefer and tank container prices increased slightly in 2020, however, in the first six months of 2021, the prices increased by 6 percent and 40 percent year on year, respectively.
Prices for these container types will continue to rise at a moderate pace in the coming years, added the agency.
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