The global container leasing industry managed its highest fleet growth in many years during 2010 and the first half 2011, as it rushed to fill a surge in demand from cash-strapped shipping lines unable to buy equipment for their owned fleet, according to the Container Leasing Industry 2012–Annual Review and Forecast, a new report from London-based Drewry Maritime Research.
“The container leasing industry invested in a record number of new containers during 2010 and also strongly in 2011, despite the second-half downturn, taking almost the majority of all production carried out in the two-year period,” said Andrew Foxcroft, the report’s author and a consultant to Drewry, a research and consulting firm for the shipping and related maritime and transport sectors.
Because of its greater investment activity during 2010-2011, the container leasing industry has regained some of the market share lost, in ownership terms, during the preceding 2004-2008 period. In those years, shipping lines were better financed and so were able to invest in their owned fleets more aggressively, Drewry said.
Looking forward, many shipping lines are likely to remain as dependent on leasing as they are on buying owned equipment.
The new-for-old replacement cost of global leased container fleet surged in 2010-2011 to a new high of almost US$40 billion.
The report contains a ranking of the top container leasing industry players and a review of some companies’ financials.
The reefer and tank container leasing sectors have also performed strongly during 2010-2011, suffering less of a downturn than dry freight later in 2011.
Drewry forecasts further robust growth for both sectors from 2012-2015 on the back of strong forward demand in these specialist sectors.
