Shipping containers around a fifth less productive than pre-Covid
Congestion across global supply chains has meant shipping containers are an estimated 15% to 20% less productive than in pre-Covid-19 times, according to Drewry’s recently published Container Census & Leasing Annual Review & Forecast 2022/23 report.
Drewry estimates that each container averaged 18.1 lifts in 2021 compared with 19.2 in 2020 and between 19.5 and 20.6 in the 2010s.
Moreover, the number of containers per slot of vessel capacity increased by 8% in 2020 when the pandemic started and remained at this level throughout 2021.
Additionally, Drewry said that the global pool of shipping containers increased by 13% to almost 50 mteu in 2021, which was three times prior growth trend.
This reflected lessors and ocean carriers ordering a record number of containers, while retiring fewer ageing units.
Drewry estimates that as many as 6 mteu of surplus containers now exist in the global equipment pool. While large by historic standards, Drewry considers this surplus to be manageable for the industry.
"The delivery schedule of new ships is very strong with slot capacity expected to increase by 3.6 mteu in 2023 and by over 3.9 mteu in 2024," said Drewry’s head of container equipment research John Fossey.
"With new IMO emissions regulations coming into force in January 2023 forcing some ships to sail slower, much of the surplus equipment currently in service is expected to be absorbed. In addition, there is evidence to suggest that some carriers are planning to have more buffer stock in their equipment pools, while fewer new containers will be built in the next two years."