Global container production to slump to 14-year low

Drewry has estimated that global box production contracted 71% year-on-year to 306,000 teu in the first quarter of 2023, the lowest level since the same period of 2010.

According to Drewry’s Container Equipment Forecaster, even though there is some anticipated recovery full-year output is expected not to exceed 1.8m teu, the lowest level since the recession-ravaged year of 2009.

The decline in global container production is in part due to stagnating trade and a ballooning surplus of shipping containers following the easing of pandemic era supply chain constraints.