As container stockpiles have grown in recent months (see page 1 this issue), and average fleet utilisation has tumbled, so have most major container leasing companies scaled back their intended investment in new container equipment for 2001 overall.
The latest production forecast for the entire leasing industry is put at less than 600,000 TEU this year, although, depending on whether the market picks up in the traditionally strong third quarter, the final figure could well be much less than this. It is likely to be at least 30 per cent down on the 830,000 TEU delivered last year (see WorldCargo News, February 2001, p32), falling to its lowest level since 1996....
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Approx 400 words from WorldCargo News, June 2001,
page 16.
