Seems that there is such a huge slump in shipping from Asia to the world, we have cargo ships sitting idly in the waters off China and nearby countries. The busiest U.S. ports, Long Beach and Los Angeles (where I filmed my documentary), seem like ghost ports… what could this mean for shipping container prices? Not really sure yet. I imagine if the economy stays the same or gets worse, one of two things could happen:
1) Container prices get lower because the the lack of imports is killing business in and around the ports, so the folks running these areas need to monetize their business some how–selling the containers cheaper to make money faster.
2) The prices rise on shipping containers because there are fewer arriving into the U.S. Let’s hope not!
I would hope for the first scenario, but at the same time, I want the economy to do better. There is nothing as bad as paying high retail for used shipping containers! Get ‘em while they are reasonable I guess ($1500 to $4000 for used and new 40-footers)…
Here is the story on the export crisis out of Asia.