A good peak season will lead to a shortage of containers, with the inventory of new boxes standing at less than two months of the required levels, Singamas chairman Teo Siong Seng said in Hong Kong.
Teo told reporters at the Singamas interim results briefing that the new container inventory in China stood at 500,000 TEUs, and rising demand combined with a large number of container ship deliveries would create a rising need for replacement boxes.
Shipping lines are reporting strong volume growth on the major trades, especially the trans-Pacific, and are optimistic that the recovering economies of the U.S. and Europe this year will deliver a solid peak season.
