Containers’ prices should increase by 9%

The syngamy Container says equipment prices should increase by 9% by the end of this year. According to company CEO, SS. Teo, the value of a 20-foot container has increased by 50% this year and could rise to approximately $ 3000 by December.

The chief executive of the Hong Kong company says the global shortage of containers may persist for up to two years, even with manufacturers reactivating facilities that were idled during the global recession to ensure supply of container shipping lines.

According earnings outlook released last month, the syngamy said the interim result for the company this year would return to profit after losses of $ 27.3 million during the past fiscal year, resulting from the current growing demand for containers.

Earlier this month, Wan Hai Lines purchased 1800 containers with China International Marine Container, the world's largest manufacturer of containers, with a total value of $ 9.3 million. The nominal cost of the units ranged between U.S. $ 3,808 and U.S. $ 9,150.

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