Shipping container prices stabilize as volumes predicted to be near peak in August

Shipping container prices have begun to stabilize and recover, with the shipping industry anticipating a comeback from the declines and heavy fluctuations in early 2023.

Consumer demand for containers has continued to rise, according to shipping logistics and data firm Container xChange.

Over the past 30 days, container prices have been stable, compared to the "volatility" of the past 90 days. The market, Container xChange said, experienced fluctuations between a drop of 4 percent and increases of 5.20 percent in July, but experienced a "visible dip" over a 90-day period.

"Despite this sustained dip, the sentiment index has stayed strong, even growing in July. The alignment of sentiment and pricing trends suggests an industry outlook that foresees a turning point, shifting away from skepticism towards shared anticipation of market recovery despite ongoing price adjustments,” Container xChange said.  

Container xChange predicted cargo volumes will reach a peak in August 2023 in preparation for the upcoming holiday season.

"As economists shift from predicting recession to a 'soft landing’, the industry holds its momentum. While some experts remain cautious, the foundation of a resilient economy, sustained consumer activity, and strategic federal investments improve the outlook of the upcoming holiday season,” Container xChange CEO Christian Roeloffs said.

The information from Conatiner xChange mirrors that of the National Retail Federation and Hackett Associations, which said the logistics environment in the second half of 2023 is normalizing as port and package-delivery labor negotiations have been resolved.