Shipped.com Analysis: New build container prices have been steadily rising since early 2016. Currently container manufacturing costs are up, over 27% 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.
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