One of the longest-running downturns in the tank container market is finally coming to an end. Tank lessors are gearing up to meet demand
Tank container lessors have finally been freed from the oversupply of tanks that has dogged the industry for the last five years. A weak US dollar, a revival in the world economy and the rapid pace of industrialisation in China have combined to drive up the demand for tank containers.
In contrast to the start of 2003, when unused tank containers were clogging up depots in Houston, New Orleans, Rotterdam and Antwerp, the storage yards at the same tank depot facilities are now eerily empty. Tanks are on the move and utilisation rates continue to climb....
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This complete item is approximately 3000 words in length, and appeared in the April 2004 issue of WorldCargo News, on page 35.
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