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Shipping container Price Increase

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Shipping containers have been slowly increasing in price over the last few months, thanks to a number of factors resulting in this increase. We have seen the box price of a shipping container increase by 25% since this time last year. For all container traders, we are all in the same boat, we are all experiencing the same at this time. However, we will always try and stay competitive in the market and give a competitive price to customers.

The price increase of a shipping container is down to a drop in the exchange rate resulting in a higher purchasing price for suppliers. Another factor is the new paint spec that came into effect on the 1st April, a change from solvent based paint, to a water Bourne paint to reduce the emissions in throughout China. China produces up to 95% of the world’s shipping containers, so this news will have an impact everywhere (the waterborne coatings have been extensively tested to ensure that they deliver the same standard and level of durability). There is also a shortage of shipping containers with the depots throughout China having a backlog of orders and puts a later date new arrivals of new ‘one trip’ shipping containers coming into the UK.

We will continue to monitor developments and work to minimise any potential impact on supply or price.

 

The factors that have resulted in a price increase in the box price of a shipping container

Exchange Rate

We all know how the recent events saw the exchange rate drop and has resulted in not getting more dollars for every pound you exchange. China work in dollars when we purchase shipping containers (so they can pay their suppliers) and with the drop in exchange rate the price for depots in China to get supplies increased. 

Change from solvent based paint to waterborne paint

We brought you a news story in a previous newsletter relating to the change in the paint specification that has seen a change in the paintbeing used on a shipping container. The move from solvent based to waterbourne paint to reduce VOC emissions throughout China, that took effect from the 1st April 2017. With China producing 95% of the world's shipping containers, this will impact container traders everywhere.

Shortage of shipping containers

There is a shortage of shipping containers currently with the factories throughout China have a backlog of orders that is putting a later arrival date of new 'one trip' shipping containers coming to the UK.

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