Shipping container price spike pointing to recovery in global seaborne trade

Singapore

PRICES for shipping containers, the metal boxes that carry 90 per cent of the world's manufactured goods, have risen to their highest since October 2015, a clear indicator that seaborne trade is increasing and should grow further this year.

The Harpex Shipping Index, which tracks weekly shipping container rates, has climbed 40 per cent this year to 439 points. Container charterers say that lead times to order containers have risen, to over a month in some cases, as not enough are available to meet demand.