What happened this month:
In NE&SE Asia, there is a slowdown among Chinese production companies, with some predicting flat demand at best compared with last year. Anecdotes from factories in key Chinese hubs may warn about a potential global recession. The Chinese city of Shenzhen has shut down the world’s largest electronics market and suspended public transport nearby as part of new COVID lockdown. Maersk & MIDA have signed a deal to work together in attracting investments in various industries in Malaysia.
In Europe, the Felixstowe strikes ended with no agreement after eight days with the dockers saying that more industrial action could follow.
In North America, the US has the highest late container charges known as detention and demurrage (D&D) in the world. This September, the air freight peak season might have canceled passenger flights between China and the US tightening the transpacific capacity. Last week, the US government suspended 26 China-bound September flights from Chinese carriers. Delays are getting shorter and shipping costs are lower, but China’s Covid policy and global political situation remain a big threat.
In the Middle East & ISC, sector watchers said that most containers were stuck at ports in Western countries and China, straining availability for other nations. Officials in the know say that the container shortage has been discussed at the highest levels of government with top functionaries pushing for boosting domestic manufacturing in India.
For more shipping industry stories, download our monthly container logistics report for August.
Overview of container prices in August
For 20DCs on Container xChange:
- The Indian port of Mundra is the costliest at $2400.
- A number of American ports are in the list with Miami at $2200 and Charleston at $2100 are in the top five spots.
- A number of Chinese ports too have made it to the list.
- For 20DCs, the top 5 costliest ports on Container xChange were Mundra (India) at $2400, Miami (US) at $2200, Taicang (China) at $2150, Nansha (China) at $2110, and Charleston (US) at $2100.
- For 20DCs, the top 5 of the cheapest ports on Container xChange were Chicago (US) at $1350, Houston (US) at $1414, St. Petersburg (Russia) at $1450, Cincinati at $1450, and Baltimore (US) at $1500.
For 40DCs on Container xChange:
- The American port of Salt Lake City is topping the list for 40DCs at $3000.
- Houston is right behind at number two with 40DCs trading at $2925 at the port.
- Ho Chi Minh City and Qingdao at $2300 also made it to the list.
- For 40DCs, the costliest ports on Container xChange were Salt Lake City (US) at $3000, Houston (US) at $2925, Helsinki (Finland) at $2400, Ho Chi Minh City (Vietnam) at $2300, and Qingdao (China) at $2300.
For 40HCs on Container xChange
- Miami is the costliest port on xChange for trading 40HCs at $3800.
- Ports from Asia, Ningbo at $3394, Ho Chi Minh City at $3300, and Shanghai at #3100 also make it in the top 10.
- Major American ports, Oakland at $3300, Houston at 3235, and Columbus at $2850, are in the list.
- For 40HCs, the costliest ports on Container xChange were Miami (US) at $3800, Melbourne (Australia) at $3400, Ningbo (China) at $3394, Ho Chi Minh City (Vietnam) at $3300, and Oakland (US) at $3300.
- For 40HCs, the cheapest ports on Container xChange were Duisburg (Germany) at $2700, Moscow (Russia) at $2100, Toronto at (Canada) $2200, Piraeus at (Greece) $2250, and Dabrowa Gornicza (Poland) at $2700.