The research of De Luli Company shows that the shortage of usable containers faced by cargo owners is mainly due to operation, rather than lack of equipment.
In early 2020, some factories in China were closed due to the epidemic, and the number of containers in circulation has declined, but the decline in container shipments has been even greater. De Luli said:
By the end of 2020, the number of global marine container equipment is expected to drop by 1.1% to 39.9 million TEU, and the global container port throughput is expected to drop by 3.3% in 2020 . The two are not synchronized .
In the second half of 2020, container trade volume has risen sharply. With the increase in e-commerce activities after the closure of large consumer markets, demand has rebounded. A key indicator for measuring the availability of container equipment- the ratio of port throughput to each container is only 20 in the second half of 2020. This figure is in line with historical trends and indicates that there are enough containers to meet cargo demand .
Drewry believes that there are two reasons for the current shortage of boxes:
First, in the second quarter, due to sluggish demand, a large number of suspensions made the distribution of containers more uneven, and the weakening of liquidity made some ports' containers remain vacant;
Second, the unbalanced global economic recovery has resulted in an unbalanced shipping volume on routes, and the surge in freight demand has stimulated investment in new container equipment.
De Lori said: "Global container production shrank by 35% in the first quarter, while the container manufacturing industry has recovered by the end of the year. It is expected that container production will reach 2.7 million TEUs in 2020, a 5% drop from 2019."
Large operators are also increasing container equipment. Maersk stated in its third quarter report that it would invest in building more containers instead of ships; Hapag-Lloyd added about 250,000 TEU of equipment this year; CMA CGM increased 8.7% in the second half of the year. container. The increase in demand has pushed up container prices. In October, the price of a 20-foot TEU has reached US$2,650. It is expected that prices will rise further, and container leasing fees will continue to increase accordingly.
