China container maker reaping rewards as Suez Canal blockage adds to global shortage, demand set for record high

Mar 31, 2021 | INVESTING

Worsened by the recent Suez Canal blockage, global demand for containers could hit a historic high this year, further pushing up costs of shipping, according to the world’s largest container manufacturer.During the coronavirus pandemic, the price of a 20-foot standard dry storage container (TEU) more than doubled from a year earlier to above US$3,500, and it is not expected to fall much for the rest of year, as demand for the containers and the cost of the raw materials needed to build them…

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