The continued growth in global trade and freight distribution has led to increased demand for new shipping containers. It is estimated that 2 to 2.5 million twenty-foot equivalent units (TEUs) of shipping containers are produced each year.
Majority of these being produced in China – the world’s factory. The reason why so many are produced in China is because of the low manufacturing costs and to cater for demand as China is the world’s largest exporter of manufactured goods.
With time, these shipping containers are distributed to all the world’s major ports. It is estimated that the global inventory of shipping containers lies above 28 million TEUs.
Once the shipping container has reached its destination and has been unloaded, the container’s operator will look for cargo to fill the shipping container for the return voyage as transporting an empty shipping container can be as expensive as transporting a full one. Sometimes relocating a shipping container is more expensive than buying a new one so the owner decides to abandon it. (Source: https://people.hofstra.edu/geotrans/eng/ch5en/appl5en/ch5a3en.html)
Once the shipping container is abandoned at its port of destination, the operator will buy a new one to replace the lost one and sell the old one to recover some money. It is this phenomenon that has made used containers abundant all over the world and increased the sales for new containers.
Image source: http://isthishouston.com/2009/10/09/shipping-containers/
Used container sales in Australia is growing by the day as people increasingly reuse them for other purposes such as housing, offices, bars and restaurants, and for temporary storage. Australians are more and more turning to shipping containers as a more affordable material to build their homes.
The increased popularity of shipping containers can be attributed to:
- Availability – The thriving international trade is pumping out a continuous supply of shipping containers virtually available in any country with a sea port.
- Their cheap price and wide application.
- Their durability and strength.
Shipping container sales will continue to increase in the future as global trade continues to thrive and as more alternative uses for used shipping containers continue to emerge.
Do you need to buy a shipping container? Get a quote now >
Read about shipping container information