Ocean carriers are ramping-up efforts to off-hire surplus leased containers or retire their ageing boxes to reduce huge storage costs.
With the global downturn in demand, and a collapse in freight rates across many tradelanes, carriers are laser-focused on cutting costs, and storing surplus containers is a significant drain on profitability.
There is substantial oversupply from a global pool of some 55 million teu of equipment, with thousands of surplus boxes laying …
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