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Most of the new shipping container production still takes place in China, and COVID has not changed that. Currently, Intermodal Asia is scheduled in Shanghai, and the Chinese New Year celebrations are kicking off. The latter has the largest impact on container manufacturing.
Chinese New Year, 2023 is the year of the rabbit, celebrations begin January 21, 2023 to January 27, 2023; with the actual New Year falling on January 22, 2023. During this weeklong celebration most companies will close production and allow employees to return home to visit with friends and family. It is standard of most production and sales, including shipping containers, to be shut down for this period.
The Intermodal Asia Expo runs from July 19-21 and is always an exciting event, however if travel restrictions are still in place many non-China based companies will be able to travel there due to visa restrictions. Currently, the exhibitor list is mainly Chinese based firms.
All things being said, the year of the rabbit is expected to turn the corner and economic and trade to improve globally and the markets seem very optimistic for the future. ContainerAuction.com will still be here to provide you with new and used containers and any market insight that we are able to provide.