For a telling window on the global supply chain crisis, watch the market for the containers themselves.
The extremely consolidated container manufacturing industry in China built more containers than ever before in 2021: 7.2 million twenty-foot equivalent units, according to consultancy Drewry, up 130% from 2020 and 62% from the previous record year in 2018.
Record container production coincided with a record surge in prices, underscoring the sheer intensity of demand as supply chains buckled. Factories were getting close to $4,000 per TEU for newly built containers at the peak, double the historical norm.
But now, both the factory output and the price of new containers are pulling back.
Read more in an article from American Shipper.