Drewry: demand for 20ft shipping containers “remains sound”
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In a recent Market Opinion piece, maritime research consultancy Drewry said it expects 20ft shipping containers to maintain a share of the global container equipment fleet over 25% “for the foreseeable future".
The update from Drewry states that the share of standard 20ft dry freight containers within the global equipment pool has reduced over last ten years.
However, the renowned maritime consultancy firm also concludes that “contrary to popular opinion,” the 20ft shipping container’s share of the global container equipment fleet “will remain above 25% for the foreseeable future”.
Drewry notes that production of the unit has increased significantly in 2022, which should come as a relief to those worried about 20ft boxes becoming less available in the last couple of years.
“In the first eight months of the year manufacturers based in China, which account for over 96% of global output, produced close to half a million teu, which was up almost 64% YoY and 35% on the corresponding period in 2020. Drewry expects output for the full year to total at least 900,000 teu, up from just below 560,000 teu in 2021.”
According to Drewry, the demand for 20ft containers “remains sound”.
“There are several industries where due to the nature of cargo moved – heavy and dense – 20ft containers are more appropriate to use and where companies have built their supply chains around this type of equipment. Ocean carriers, in particular, need to ensure that they have the inventory to satisfy these accounts, many of which are long-time customers of theirs,” says the consultancy.
In addition to this, Drewry believes that the the demand for 20ft containers in non-maritime trading is strong.
Drewry thus expects the 20ft container’s share of the fleet “to remain stable over the next five years with the unit accounting for at least 26% of standard dry containers in service.”