As we enter 2015, the world economy is likely to continue its modest trade growth pattern experienced during the past few years, and the global container supply is expected to continue its growth to meet the demand. Global container manufacturing is projected to approach 3.2 million 20-foot equivalent units, according to Drewry, with the world container fleet reaching a new high approaching 38 million TEUs in 2015.
The sea change convergence of record-breaking container volumes, ever-increasing sized ships and evolving business models has resulted in the recent port congestion and supply chain stress in several major U.S. container ports and trade corridors.
The complexity and inter-related impact of these changes will require collaborative and cooperative efforts among the many parties involved to identify and implement solutions to address the challenges. By working together, industry partners have the best opportunity to meet the business requirements of the growing commerce while controlling costs, maintaining safe operating conditions and expeditiously addressing new challenges as they develop.
Steven R. Blust, President, Institute of International Container Lessors