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Shipping containers are always in demand as these are used all over the world for shipping commodities from one place to another. Singamas Container Holdings Ltd., the world’s second-biggest maker of shipping boxes, said prices will rise as much as 9 percent by year-end as shippers struggle for containers amid rebounding global trade. CEO Teo Siong Seng of the company also said that the price of the standard twenty foot box was already up by 50% and it was expected to climb up to $3000 by the end of the year. Teo also said that globally, there may be a container shortfall of as many as 4 million. The shipping container manufacturing industry is yet to get back in gear as they have to reactivate plant that were idled during the global recession of the past year. The lack of boxes has led to shipping lines refusing cargos and raising their prices.
Um Kyung-A, a trade analyst at Shinyoung Securities Co. in Seoul said, “Shipping lines have to bring back empty containers from Europe and the U.S. to meet Asia’s export demand.” With the tribulations in the shipping industry, it is the right time for investors to invest in the shipping industry and fill in the demand for shipping containers by buying new containers and providing them to companies that require containers for shipping purposes.
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