Container xChange: Container leasing rates on China-US route rise threefold due to Red Sea crisis

Container leasing rates on the China-US trade route have risen by 223% compared to levels prior to the Red Sea shipping crisis, while a recovery in demand for containers is expected in the coming months, according to container trading platform Container xChange.

The Ningbo-New York trade route has experienced the largest price increase with a price of US$535 in November 2023 compared to US$1,730 this month.

Prices have more than doubled on five routes, namely Shanghai-Oakland (216%), Ningbo-Oakland (154%), Shanghai-Savannah (130%), Shanghai-New York (128%) and Ningbo-Savannah (109%).