Textainer sold to Stonepeak

Ontario Teachers’ Pension Plan Board has sold an undisclosed number of shares in SeaCube Container Leasing to London-based Wren House Infrastructure Management Limited. The two companies will now operate under a so-called “co-control structure of the leasing company”

Brookfield Infrastructure is to acquire Triton International for US$13.3 billion and take the company private.

Shipping lines are returning some containers, but at this point not in numbers that the secondary market cannot absorb; 98% of containers are on fixed rate terms and finance lease contracts.

As demand and freight rates continue to fall the world’s largest container leasing company has stopped buying new containers, but sees no reason to panic and is confident it has structured its business to weather the storm.

As demand for new containers starts to fall Textainer says its performance in Q2 “demonstrates the resilience of our business model in the current environment.”

At the midpoint in 2022 the World’s largest container leasing company has slashed its spending on new container purchases by 84% compared to 2021.