Container Availability On The Rise
Containers are moving again, but not quite on a pre-COVID-19 level. That can be seen on the container availability with higher levels of equipment availability across European ports.
We all know that the COVID-19 crisis has far from being good for the container logistics industry. The lack of demand meant that many containers were stuck at depots around the world. And that, for an unseeable amount of time.
Thankfully, that trend is changing. Containers are now being loaded and returned. Though, the industry is still working on a lower heat than what we were used to before the Corona-pandemic.
This also means that some ports and depots were already filled with equipment and still are. And the stocks may continue to be stored for quite some time. Especially when we combine a lower than usual level of demand with containers that are being returned to depots.
In the Container Availability Index (CAx) the values of container availability in Hamburg, Germany are increasing. In CAx when values are above 0.5 it indicates there is a surplus of equipment. Below, 0.5 it indicates there is a deficit.
In Hamburg especially the availability of 20DC’s stands to increase, with a value of 0.47 in week 29 to a 0.78 in week 31.
Also, 40HC is indicated to increase, where 40DC containers on the hand will drop from a value of 0.49 in week 29 to 0.45 in week 31. These values indicate an increase in equipment at the port of Hamburg.
In this calculation, we should, however, also not forget the many blank sailings Europe has been hit by during the crisis. This has also had a tangible impact on the number of containers in the depots and the terminals around the continent. With fewer blank sailings, that is also now changing.
All across Europe
If we from Hamburg travel a little south to other ports in northern Europe we will see a similar pattern. With the container availability increasing.
But if we for instance take a trip to the south of Europe, we will here see a more muddy picture at the port of Genoa, Italy.
Let’s just refresh: If the container availability value is below 0.5 it indicates there is a deficit of containers.
Taking a look at the values in CAx for Genoa the 40DC has availability of 0.01 – which is far under the threshold of 0.5. The 20DC, on the other hand, has a value of 0.32, and the 40HC an availability of 0.26. And this is a trend that looks to be continuing the coming weeks. Being able to forecast the development of the container availability, the CAx values for Genoa will decrease to 0.22 for 40HCs in week 31. And a continued low availability of 40DC in week 31 with a CAx value of 0.01. Indicating that equipment will become even more scarce.
Container xChange’s Container Availability Index CAx takes millions of data points from transactions on xChange and tracking data that is globally available. All of these data are taken into account to forecast the availability of equipment for most of the biggest port locations.
If you want to learn more about the Container Availability Index, you can meet the man behind the graphics at the Digital Container Summit 2020 on September 3rd.
Container xChange is an online neutral platform for 3rd party equipment. At xChange, you can find partners who either have SOC containers or are looking for them.