Container xChange Reports Drop-In Lease Rates Down in September

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Container xChange Reports Drop-In Lease Rates Down in September

Hamburg, DE, September 24, 2024-Container xChange's China Market Update for September 2024 reveals key shifts in container trading and leasing rates, alongside critical developments affecting supply chains in China. 

Key Highlights

  • 35% Drop-in Container Leasing Rates: China to U.S. one-way container leasing rates have declined sharply from $1,221 in early August to $787 in September 2024.
  • Container Trading Prices Dip for the Second Month: Despite a second consecutive month of price declines, average container trading prices in China remain 25% higher than last year’s averages.
  • Port Operations Disrupted: Typhoon delays have led to extended berthing times of 36 to 60 hours in Shanghai and 24 to 48 hours in Ningbo, compounding the strain on key shipping routes.
  • Impact of U.S. Labor Strikes: Ongoing East Coast labor strikes in the U.S. have led to an acceleration in shipment orders as businesses aim to sidestep potential delays.