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In a recent article by JOC Sailings, a leading maritime news provider for the cargo transport industry, this week, container shortages are expected to continue at least through the year.
Various factors are contributing to this shortage – shipping lines selling off containers during the recession, container manufacturers producing more refrigerator and specialty containers than standard containers and an increase on new container prices.
In 2009, shipping lines sold off older equipment as they had lower demands due to the worldwide recession. At the same time, more orders for specialty containers pushed out production of standard containers. The result is a box-inventory-to-vessel capacity ratio that is predicted to be a 1.99 by the end of the year, down from the 2000 ration of 2.99.
What does this mean for the container buyer – plan in more time to get a container as containers simply are not as plentiful as they once were. And the law of supply and demand is driving the price of containers up. Containers are still a great value even at their higher rates for the quality and versatility they offer.
Read the article here: Carriers Face Renewed Container Shortage