There are few people that would argue that the shipping industry has not had a difficult time recovering from the sharp drop in global demand, which occurred when the Global Financial Crisis struck the world. They would be wrong. Shipping vessel overcapacity and a steady drop in container lease rates are just two of the major concerns that have had to be addressed by the maritime shipping sector, over the last half a decade.
When the worldwide demand for consumer goods dropped significantly, container shipping lines were forced to discount rental rates to maintain a steady flow of cargo on their vessels, enough at least to cover their everyday operating expenses. But, in my opinion, because of the circumstances that would have happened regardless of whether the ships were 8000 TEU or 18,000 TEU. From my understanding, Maersk Line’s Triple-E vessels (for example) were built to be more efficient and reduce the company’s operating costs. So, how was introducing them a problem? Timing. Albeit the timing was not ideal, in the near future they can be expected to improve circumstances and deliver the profit-increasing results they were designed to.
Aside from more efficient vessels, the introduction of partnerships and alliances in the shipping industry, like the G6, CKYH and the P3 alliance, are another effort by the global container shipping industry to improve their performance (and profits) on major trade routes; around the world. Albeit a concern for some competitors and regulating officials, the leading container lines believe that by combining their vast resources, they can serve major ports much more efficiently and provide additional value to their shipping clients. It goes without saying, this approach will no doubt provide more value (and profits) to the container shipping companies, as well.
As world economies recover, rebuild and prosper, the goal of achieving/maintaining meaningful economic growth is facilitated by the steady import and export of shipping containers. It is widely known that as a nation’s GDP rises, so does the demand for shipping containers. This constant need for a steady supply of containers must be fulfilled, or officials run the risk of their economic goals not being realized.
The fact that regions rely so heavily on these maritime assets, really highlights the need for ongoing investment in shipping containers. Before the introduction of the global financial crisis, the cargo container’s contribution to maintaining a strong and steady global recovery was often overlooked by investment-seekers. Nowadays, as investors begin to review alternative investment offerings and embrace opportunities that directly contribute to and profit from economic growth around the world, shipping containers are finally getting the attention they deserve.