Empty containers pile up at global ports as trade slows

Shanghai dock operator: 'We haven't seen such a scene for years'

Shanghai port on Jan. 8, 2023: With an estimated 6 million idle containers globally, the spot shipping rate for a 40-foot container from Shanghai to the U.S. West Coast has fallen to $1,293, down 84% from the 2022 high.

LI RONGQIAN, YANG JINXI, BAO ZHIMING and DENISE JIA, Caixin

February 15, 2023 13:30 JST

Empty containers are piling up at major ports around the world as slowing economies weigh on shipping demand.

In the week of Feb. 5, the CAx (Container Availability Index) rose to 0.64, according to container monitoring platform Container xChange. It was the 11th consecutive week the index was above 0.6. CAx values above 0.5 mean that more containers entered a port than left it.