The year 2000 finally brought the long awaited upturn that had eluded container lessors during the preceding four years. However, the market has slowed again and there are fears that the recovery may be short-lived
The world's container leasing industry witnessed one of its strongest years in a long time during 2000, when the long awaited market upturn finally materialised. Prior to this, most major companies had spent several years in the doldrums as they endured one of the worst deflationary cycles in their history. Between 1996 and 1999, new-build prices and rental rates fell by over 40 per cent. Utilisation similarly went into decline and was made worse by the severe trade imbalances existing on major east/west trade routes between Asia, Europe and North America....
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Approx 2000 words from WorldCargo News, February 2001,
page 31.
