The article comes from: www.csi.com.cn

Drury expects the global container volume to contract in 2023 and 2024. Stubbornly high inflation levels in many countries have dampened demand, while geopolitical instability has weighed on investor sentiment, both of which 

have an impact on the outlook for world trade growth. At present, shipping companies and container leasing companies are clearing the excess containers accumulated in the past two years.

Drury's latest report on the container equipment market predicts that the total volume of containers will fall by 2.6% this year and shrink further in 2024. The last time container volumes saw a year-on-year decline was during the 

global financial crisis. Between 2008 and 2009, the total number of containers fell from 27.9 million to 26.9 million, a decrease of 3.7%.

The most severe oversupply is in the 40-foot high cube container, as this is the most demanded container type in late 2020 and throughout 2021. In 2021, HCF accounted for more than 85% of all dry container production, a 

record year with more than 6.6 million TEU. Massive oversupply means that under normal circumstances, 40-foot high cube containers are unlikely to balance supply and demand before 2025.

This year, both shipping companies and container leasing companies have significantly scaled back their purchasing plans, and no more than 1.1 million new containers are expected to be delivered in 2023. Drury expects a 

modest recovery in its procurement plan in 2024, mainly for the replacement of more ageing containers, and a significant increase in purchases in 2025.