Ocean carriers are intensifying initiatives to return surplus leased containers or retire aging units in a bid to slash exorbitant storage expenses.
Strategic Cost Cutting
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...
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