Container leasing companies worldwide are purchasing international-standard containers produced in Vietnam amidst a global container shortage that has significantly increased sea freight rates.
Recently, container freight rates on many routes to the U.S. have soared by 250 percent compared to March, rising from $2,950 to $7,350 per 40-foot container, severely impacting exporters globally, analysts report.
Experts attribute the sharp rise in freight prices to a global shortage of empty containers affecting many regions, raising concerns that the record-high sea freight rates for containerized goods seen in 2021-22 may recur.
To address this shortage, China, one of the world’s largest economies, has urgently collected empty containers in preparation for large-scale exports to the U.S. before August 1, as noted by many shipping lines in a recent meeting with the Vietnam Maritime Department.
Many container leasing firms globally are interested in purchasing containers made in Vietnam, including U.S.-based SeaCube Container Leasing Ltd., a leading company in container leasing and logistics solutions.
Earlier this month, SeaCube received a shipment of 500 40-foot containers from Hoa Phat Container Production Joint Stock Company, based in Ba Ria-Vung Tau Province and part of the Vietnamese steel giant Hoa Phat Group.
With a global operating network, SeaCube provides standard and reefer container rental services, meeting the diverse cargo transportation needs of international customers, said Hoa Phat Container Production director Vu Duc Sinh.
Following this shipment, both parties hope to continue their cooperation in supplying more container products to the international market, Dien Dan Doanh Nghiep (Business Forum) magazine cited Sinh as saying.
Hoa Phat Container Production has delivered many containers to various partners, both domestic and foreign. The manufacturer specializes in 20-foot and 40-foot general cargo containers, targeting a total capacity of 500,000 20-foot equivalent units (TEUs) per year. Currently, it can produce 200,000 TEUs annually.
With this production expansion, Hoa Phat Container Production has become the largest manufacturer of ISO containers in Vietnam and Southeast Asia. ISO containers are international intermodal containers that meet the standards specified by the International Organization for Standardization (ISO).
