The global container leasing industry managed its highest fleet growth in many years during 2010 and the first half 2011, as it rushed to fill the gap caused by a surge in demand (after almost zero production in 2009) and the inability of cash-strapped shipping lines to buy equipment for their owned fleet, according a new report from Drewry Maritime Research.
"The container leasing industry invested in a record number of new containers during 2010 and also strongly in 2011, despite the second-half downturn, taking almost the majority of all production carried out in the two-year period," said Andrew Foxcroft, the author of Container Leasing Industry 2012 – Annual Review and Forecast.
Because of its greater investment activity during 2010-11, the container leasing industry has regained some of the market share lost, in ownership terms, during the preceding 2004-08 period. In those years, shipping lines were better financed and so able to invest in their owned fleets more aggressively. Looking forward, many shipping lines are likely to remain as dependent on leasing as they are on buying owned equipment.
The new-for-old replacement cost of the global leased container fleet surged in 2010-11 to a new high of almost US$40 billion.
The reefer and tank container leasing sectors have also performed strongly during 2010-11, suffering less of a downturn than dry freight later in 2011. Further robust growth is being forecast for both sectors from 2012-15 on the back of strong forward demand in these specialist sectors.
