According to the results of the first quarter of this year, the production of freight containers decreased by 71% compared to the same period of 2022. The main reasons are the decrease in demand and the decrease in trade volumes, informs The Financial Times cites statistics from Drewry analysts.
The drop in demand for containerized freight comes after a rapid increase in production volumes during the quarantines in China due to increased demand for the movement of goods from foreign countries. But after the easing of restrictions and the gradual recovery of the Chinese economy, local ports are overflowing with containers. Many industry players suffered significant losses in this regard.
“Production of 20-foot containers, the industry standard container size, fell 71% from 1.06 million to 306,000 in the first quarter of 2022. <....> The profit of China International Marine Containers, one of the country’s largest container manufacturers, fell 91 percent year on year to 160 million yuan ($23 million) in the first three months of this year. During this period, sales of standard containers fell 77%, ”he concludes the material.
On May 22, the newspaper Kommersant cited the assessment of the international carrier ModernWay. reportedThe cost of shipping containers from China to Russia fell by a third at the beginning of 2023. If in 2021 this indicator is an average of 12-13 thousand dollars in monetary terms, then by January of this year it is already 8-9 thousand dollars.
Source: Gazeta
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