Despite a slight drop in prices for new containers in China just recently used container prices are still rising. Until such time as supply increases and overstocking forces the hand of owners to lower their sights in order to move equipment, the situation looks set to continue.
In years gone by the summer, usually a quiet period for the industry, would see prices come down. In stark contrast to the high street which is seeing prices slashed and sales starting early freight containers seem to be bucking the trend.
The summer is also usually a busy period for container conversions as many companies race in last minute orders for events and those more organised begin early preparations for the festive rush, quite a depressing thought in mid-summer.
The self storage industry using cargo containers will also be feeling the pinch as box prices, finance and rental rates all increase these additional overheads will either have to be absorbed or passed on to the consumer. This will be all the more prevalent in London and Essex with land costs in the southeast being some of the most expensive in the U.K.
The outlook for the future is unclear, even if new build orders slow down the commissioning of large and larger vessels by the lines will absorb ever increasing numbers of containers. The only certainty is that at the moment cheap containers are hard to find.