Container Supply Outlook

Due to the steel shortage driving up prices of containers, China's new container production so far this year is far less than originally expected.  Container lines are depleting leasing company inventories in Asia and the US West Coast in order to ensure adequate container supplies later this year when many of the new, larger vessels will be deployed.  Many lines are also extending leasing contracts set to expire this year, choosing to keep the old units in their fleet rather than redeliver them and not have enough containers.