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Home News Global tank container fleet grows 7.3% in 2021, surpassing 735,000 units

Global tank container fleet grows 7.3% in 2021, surpassing 735,000 units

The global tank container fleet has grown by 7.3%, reaching 736,935 units worldwide at the end of 2021, according to the 10th Annual Tank Container Fleet Survey of the International Tank Container Organisation (ITCO).

Reflecting a strong upsurge in demand for new equipment, especially towards the end of last year, a total of 53,285 new tank containers were built, compared to 35,800 tank containers in 2020, translating to an increase of 17,485 units.

The survey shows how, numerically, the industry continues to be dominated on a global level by a relatively small number of major tank container operators and leasing companies.

The top 10 tank container operators account for over 266,665 tanks, representing around 60% of the global tank container operators’ fleet. The top 10 leasing companies account for 275,050 tanks, representing about 85% of the total leasing fleet.

“Increased volumes from a wide range of cargoes from Asia – as well as space-shortages on container ships, port congestion and inland transport delays – these are all factors which have contributed to increased tank container demand in 2021,” said Reg Lee, ITCO president.

Despite the rate increases that dominated the container market through 2021, demand for tanks has continued to grow. Reg Lee believes that one factor for this is that “the high freight rates lead to an economic need to maximise the quantity of cargo shipped within an ISO container slot, with the tank container transporting about 60% more cargo compared with a container filled with drums.”

Looking ahead to the current year, Lee notes that “the signs for 2022 are that there will be strong demand on all global trade lanes, but the challenge for tank operators to book space on container ships could continue to cause industry problems, as some shipping lines prioritise ‘carrier owned containers’ rather than ‘shipper-owned containers’.”

Lee added, “there are no signs of improvement in the near term from the problems of space shortage on container ships. Customer demand remains strong, but much of the new vessel capacity will not be introduced into service for at least another year.”

Commenting on the service side of the industry, Reg Lee stated, “Alongside the shortage of space on-board container ships, the tank industry also faces a shortage of tank container cleaning and repair capacity, with investment and expansion of tank depots generally not keeping in line with global tank fleet expansion. Driver recruitment for tank container hauliers continues to be a problem for the industry.”





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