Shipping Container Price IndexesAll data shown is © 2024 by Shipped.com Corporation and may only be used with an html attribution link back to Shipped.com
Shipped.com Analysis: New build container prices have been steadily rising since early 2016. Currently container manufacturing costs are up, over 36% higher today than in 2016. Prices in 2016 through 2018 were affected by an industry change from oil (solvent) paints to water based. Retooling and adjusting factory processes is expensive and the prices through late 2018 reflects these challenges. Later on, in 2019 and 2020 reflected historically low manufacturing coupled with low inventory supply and strong demand from the pandemic to create a price explosion. Production prices became unsustainable and our current day's surge in pricing reflects this unwinding of downward price pressure along with low inventory and strong demand. We foresee the market prices for new builds to continue to rise along with most other commodities.
Shipped.com Analysis: Used container prices have been steadily rising since 2017 and will continue to do so for the foreseeable future. Prices for used equipment today are over 72% higher today they were in mid-2016. Used container prices tend to follow new container manufacturing costs, but they typically lag 8-16 months behind new price surges. Interestingly, used container prices tend to be more volatile and overshoot new prices similar to other well known commodity pairs such as gold/silver. We foresee the market prices for used containers to continue to marginally rise. Savvy traders in the industry would serve themselves well to buy up all available inventory.
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