Recent volume increase and subsequent container price increases, was primarily driven by bringing forward orders, raising questions about the strength of underlying demand. If demand proves to be weak in the H2 of 2024, we may see container prices and freight rates momentum decline.
In the short term, it appears that average leasing rates for westbound trade from China have continued to surge throughout July.
China’s container demand is surging, particularly for shipments to the US, driven by increased consumer spending. However, capacity constraints and disruptions in major shipping routes have led to significant spikes in leasing rates.