The container leasing sector grew by 7.3% in 2013 according to maritime research and advisory organisation Drewry in its annual ‘Container Report.’
This growth outpaced the 2% growth recorded by the container fleet owned by transport operators. Drewry said this was mostly due to the continued weakness of carrier financials.
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Leased containers now account for 46% of global inventories, up 6% compared to 2009, following market share growth each year following the onset of the recession in 2009.
Andrew Foxcroft, author of the report, said; "The changed financial climate has left the container shipping industry heavily in debt and unable to easily access capital for investment. Carriers have been forced to turn to the leasing sector to renew their container equipment fleets."
Despite the growth in the container sector, the report also warned that rental cash returns from the lease of new equipment fell in 2013. Foxcroft said; "The recent rate erosion has been due to the expansionist antics of top leasing firms, most of which are still chasing market share growth in order to maintain investor interest and draw in further capital funding for investment."
The report predicted that growth in the container leasing fleet would continue to outpace the owner operator fleet in the future, however the gap would shrink as operator finances begin to improve.
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