Since the growing uncertainty surrounding tariffs between the world’s largest economies, the global trade scene has experienced its consequences. This, in turn, is affecting the number of shipping containers available in the North American market and thus, their price.
The imposition of additional tariffs between China and the US is causing the number of goods imported from overseas to decrease. Since the majority of goods transported between the two countries are packaged in shipping containers and carried across by boat, fewer trades means fewer shipping containers arrive in North America.
This decrease in the supply of shipping containers available on the market is causing its price to rise. This effect can be seen across North American markets, with even Canada experiencing the effects. Many shipping container suppliers across the country have raised the price of their containers and some even their rental rates to accommodate for this shortage of shipping containers.
It is important to note that this situation might not be as apparent if one of the countries party to this tariff war was not China. Because China is the main producer of new shipping containers and also supplier of used containers, North American countries have little to no other choice in sourcing containers from a different country. We also cannot forget that Canada and the US export goods and commodities using the same method of transport, to countries other than China, which essentially causes more containers to leave than arrive.
Some might ask, why not simply buy more shipping containers? Although that is possible, there is separate demand for new shipping containers and used ones. Many people do not want to pay the premium cost associated with new shipping containers and prefer to buy used instead.
What does this mean for our customers? As Canada’s largest shipping container supplier, we carry a large inventory of containers that allow us to sell them at a lower cost than many of our competitors. Although some containers may see price hikes, we strive to always give our customers the best rates. For the highest quality of customer service, a large selection, and great prices, please reaches us by telephone at 1 866 493 4863 or by email at sales@atscontainers.com.