Mounting pressure on Chinese box market
Container prices and leasing rates in China continue to fall amid weak cargo demand, excess inventories and trade uncertainty. According to Container xChange, average prices for 40 ft high-cube containers have dropped 11% since November 2024.
One-way leasing rates from Shanghai to New York fell 24% in March, reflecting a sharp slowdown in repositioning demand. CEO Christian Roeloffs attributes this trend to "inventory imbalances and weaker freight demand," adding that most Chinese traders are adopting a wait-and-see approach.
Other Asian ports, including Hong Kong, Singapore and Nhava Sheva, report similar declines. Unless demand recovers or Red Sea disruptions persist, prices and leasing rates are expected to remain low through the second half of 2025. (ah)