In a new opinion
piece Drewry shipping consultancy notes that the container equipment shortage
being faced by the supply chain is due to logistics and not fleet
Drewry notes that
container shipping remains disrupted by box equipment shortages which are
restricting availability capacity and so forcing freight rates to record highs.
Drewry’s Container Equipment Forecaster, the global ocean-borne container
equipment fleet is expected to end the year having declined 1.1% to 39.9
million TEU, compared to a 3.3% projected fall in 2020 global container port
handling. This suggests that the former has more than kept pace with the
latter, Drewry said.
2020 a year of two halves; first, severe trade contraction; second
recovery in cargo demand
consultants note that 2020 has indeed been a year of two halves with the first
seeing a severe trade contraction with record blank sailings and the second
half showing a recovery in cargo demand.
renewed demands the ratio of port throughput per shipping container only
reached 20 in 2H20, which Drewry notes is not particularly high. With the ratio
typically reaching above 20 in most years from 2017 onwards.
notes that the surge in cargo demand has boosted investment in new container
equipment. With this renewed demand manufacturing has recovered and is expected
to reach 2.67 million TEU by the end of 2020.
Output in 2021 is
forecast to leap as much as 40% with further growth expected in subsequent
Newbuild production and
normalisation of cargo demand development and carrier sailing schedules to
alleviate container equipment shortage
the ramp up of newbuild production will certainly help alleviate some of the
ongoing container equipment shortages, but the greatest impact will come from a
normalisation of cargo demand development and carrier sailing schedules, as
Covid-19 related disruption unwinds through the first half of 2021.