New marine containers costs jump 27%, nearly hitting its record level

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

30 Jun 2010

Year-to-date cost of new marine containers has increased by 27% over the end of 2009 and almost reached the maximum value recorded in 1991, the Journal of Commerce reports. Now a 20-foot container costs some $2,750 vs $2,000 in 2009, Alphaliner analytical agency said.
Despite the soaring prices, the demand will outstrip container supply in the peak season, the analysts said. Global production of containers may total this year about 1,5-2 million TEUs compared to 4.2 million TEUs in the peak of 2007. It is assumed that the world's largest manufacturers of containers - China International Marine Containers and Singapore's Singamas Container Holdings Limited are expected to supply 1.35 million TEUs. The companies’ enterprises are able to produce 3.5 million TEUs this year. Maersk Line, a largest maritime container operator organizes its own box production due to the anticipated shortfall. However, the company has already acquired 50,000 FEUs and resumed its container ships’ operations on Asia services.
Ocean container shipping from Asia to Europe grew by 23% over the straight five months of 2010 compared to the same period in 2009. Year-to-date, the number of containers transported on these routes has increased by 85,000 TEUs.

Source: Portnews