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Container shortages have reached critical levels, with lines blaming the shortage on 'exceptional' high demand which developed since the Chinese New Year in February, said French shipping consultant Alphaliner's weekly newsletter.
Prices for new containers have soared to their highest levels in almost 20 years since 1991. According to the newsletter, the current price for 20-foot dry containers has reached $2,750 per unit compared to less than $2,000 per unit at the end of last year.
On top of that, the two largest container manufacturers, CIMC and Singamas have been cut back significantly since late 2008. As a result, these two suppliers are expected to produce only 1.35 million TEUs in 2010. The global output of new containers is estimated at 1.5-2.0 million TEUs for the full year, well below from the peak of 4.2 million TEUs in 2007 and a global capacity of 5 million TEUs, Alphaliner said.
