An unprecedented recovery in box building activity has taken place this year. Disruptions in global supply chains have led ocean carriers and leasing companies to order significantly more containers. Output this year could exceed 2021 when a total of 6.68m TEU was produced.

The decline in revenue and average selling price was attributed to a slump in demand for dry freight containers in the wake of overproduction in 2021.

Mawani (Saudi Ports Authority) and Saudi Global Ports (SGP), which is a joint venture between the Saudi Public Investment Fund (PIF), Singapore’s PSA International, and the Al Balagaa Group, are to invest US$266M in a new logistics park at King Abdulaziz Port in Dammam.

The global pool of dry freight containers is expected to fall in 2023 as ocean carriers and lessors dispose of surplus units that have built up in the fleet since the end of 2020.

Hapag-Lloyd, which is leading the liner shipping industry when it comes to fitting smart devices to its dry freight containers, is pressing ahead with its installation programme. It expects the whole of its 1.6M TEU owned fleet to be smart early in 2024. Already more than 80% of its reefer containers are fitted with devices that in addition to tracking the container’s position, monitor temperature and humidity levels inside the equipment.

A sharp fall in orders for new containers has taken its toll on container manufacturers with H1 2023 revenues and profits at China International Marine Containers (CIMC), Dong Fang International Containers (DFIC) and Singamas well down on the corresponding period of 2022.

An unprecedented recovery in box building activity has taken place this year. Disruptions in global supply chains have led ocean carriers and leasing companies to order significantly more containers. Output this year could exceed 2021 when a total of 6.68m TEU was produced.

The decline in revenue and average selling price was attributed to a slump in demand for dry freight containers in the wake of overproduction in 2021.

Mawani (Saudi Ports Authority) and Saudi Global Ports (SGP), which is a joint venture between the Saudi Public Investment Fund (PIF), Singapore’s PSA International, and the Al Balagaa Group, are to invest US$266M in a new logistics park at King Abdulaziz Port in Dammam.

The global pool of dry freight containers is expected to fall in 2023 as ocean carriers and lessors dispose of surplus units that have built up in the fleet since the end of 2020.

Hapag-Lloyd, which is leading the liner shipping industry when it comes to fitting smart devices to its dry freight containers, is pressing ahead with its installation programme. It expects the whole of its 1.6M TEU owned fleet to be smart early in 2024. Already more than 80% of its reefer containers are fitted with devices that in addition to tracking the container’s position, monitor temperature and humidity levels inside the equipment.

A sharp fall in orders for new containers has taken its toll on container manufacturers with H1 2023 revenues and profits at China International Marine Containers (CIMC), Dong Fang International Containers (DFIC) and Singamas well down on the corresponding period of 2022.