China’s container trade hindered by supply-demand imbalance
News“The management of the Red Sea crisis has alleviated concerns of sudden container price rises, providing a more predictable environment”
Container xChange adds tank containers
Hamburg-based Container xChange has acquired TankContainerFinder.com, giving it coverage of the tank container market
“Our customers have been asking for tank containers for a while and after a few conversations it was clear that joining forces with TankContainerFinder.com made a lot of sense,” said Johannes Schlingmeier, the founder of Container xChange, which is one of the world’s leading online container equipment trading platforms. “Container xChange is now in the perfect situation to bring transparency, trust and efficiency to the tank container market.”
TankContainerFinder.com has generated over US$40M in revenue in just four years since it was set up in 2017 and has established itself as a leading digital player in the market with hundreds of members trading equipment. According to its founder Léon de Bruin, “it is now the right time to move on.”
Commenting on the deal, he said: “After a few conversations, it was clear that Container xChange is the perfect partner and a great place for our members to keep growing their businesses in an expanding market.”
Clearly the deal adds a significant number of new members to Container Xchange’s client base.
Tank containers have been one of the stronger performing sectors of the container shipping market in recent years as an increased volume of liquid and gas products have shifted from drums and parcel tankers. Consequently, the pool of equipment has increased year-on-year with the latest International Tank Container Organisation survey recording a total of 686,650 units in service at the end of 2020. This represented a rise of 5.2% on the previous year but with the fleet up by a massive 167% since 2011.
The financial details of the acquisition have not been disclosed.
You just read one of our articles for free
To continue reading, subscribe to WorldCargo News
By subscribing you will have:
- Access to all regular and exclusive content
- Discount on selected events
- Full access to the entire digital archive
- 10x per year Digital Magazine