News / Container glut pushes down second-hand prices, but carriers still ordering new

© Björn Wylezich

Liner operators and container lessors have rushed to build new boxes, as freight rates rocketed to historical highs in the past two years, which has resulted in an equipment glut, eroding prices of pre-owned containers.

But carriers, such as Evergreen, continue to order more.

Yesterday, Hamburg-based consultancy Container xChange said container over-building was a knee-jerk reaction to logistical bottlenecks, resulting from the Covid-19 pandemic.

CEO Christian Roeloffs said: “The current situation of oversupply of containers is a result of a series of reactionary ...