A survey of over 2,500 supply chain professionals indicates optimism for container market recovery. Container xChange’s Container Price Sentiment Index (xCPSI) grew in July from June. Stable July container prices suggest favorable conditions for shippers in the peak season.
Container xChange’s CEO, Christian Roeloffs, notes a shift from recession predictions to a more positive economic outlook, driven by consumer activity and strategic investments.
42% of respondents expect higher container prices soon, signaling potential market improvement. 28% predict further price decline, reflecting market pessimism. 30% anticipate unchanged prices.
Roeloffs highlights the shipper’s advantage this peak season due to stabilized rates and ample capacity.
xCPSI gauges container price trends using expert surveys. July’s survey had 2,570 participants, offering insights into near-future container market dynamics. Findings are in Container xChange’s August market report.
Stable container prices in the last 30 days (fluctuations: -4% to +5.20% in key regions) and a resilient sentiment index suggest market recovery. Asian ports show steady price changes, benefiting Southeast Asian container trading.
China’s 6% YoY rise in Q2 2023 container throughput drives Intra-Asia trade growth. China-India trade and US imports are increasing, backed by GDP growth. Eurozone avoids recession but faces high inflation impacting shipping costs.
The report emphasizes the industry’s dependence on economic shifts, trade dynamics, and supply chain adjustments in the coming months, especially during the holiday season.