Following the long, five-year depressed market for tanks, tank container lessors are now enjoying strong demand for their services on the back of a vibrant world economy and surging chemical production. The persistent oversupply of tanks has finally been whittled away and the industry’s reviving fortunes are being aided by the rapid pace of industrialisation in China.
“The further good news is that end users of tanks - the shippers - are reporting increased profits,” stated Colin Rubery, general manager, tank containers, at GE SeaCo. “Such a scenario presents a reassuring environment for tank service providers to improve what have been, for several years, meagre margins. Improved margins, in turn, are necessary in order to finance the investment in assets and service that our industry requires.”...
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This complete item is approximately 2220 words in length, and appeared in the April 2005 issue of WorldCargo News, on page 38.
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