Global tank container fleet jumps 11% led by China

Global tank container fleet jumps 11% led by China

ITCO, the International Tank Container Organisation, has published its seventh annual tank container fleet survey. This year’s survey estimates that, at 1 January 2019, the global tank container fleet had reached 604,700 units worldwide, compared to the figure of 552,000 on 1 January 2018, a year-on-year growth of 10.8%.

The number of tank containers produced last year also showed a significant increase. In 2018, a total of 59,700 tank containers were built, compared to 48,500 in 2017, an increase of more than 11,000 units over the previous year.

The survey shows how, numerically, the industry continues to be dominated on a global level by a relatively small number of major tank container operators and leasing companies. The top 10 operators account for over 225,000 tanks representing nearly 60% of the global operators’ fleet of 381,700 units. The top 10 leasing companies account for 227,000 tanks, about 82% of the total leasing fleet of 286,000. The top three leasing companies account for 150,000 tanks, almost 55% of the total fleet.

Commenting on the results of the survey, Reg Lee, ITCO president, said: “The expansion of the tank container industry underlines the fact that this mode of transport is safe, reliable, economic and sustainable. There are a number of reasons for this growth. The trend continues to successfully convert certain cargoes – which were previously shipped in drums or transported in chemical tankers – to tank containers. In addition, China has seen a significant growth in the use of tank containers for domestic transport of bulk liquids.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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1 Comment

  1. Avatar
    TCF
    March 8, 2019 at 12:09 am

    We broke down the key figures of the ITCO 2019 Global Tank Container Survey and created an infographic for an overview of the state of the global tank container industry at the beginning of 2019.

    Key takeaways & infographic: https://tankcontainerfinder.com/blog/view/state-of-the-global-tank-container-industry-54