...is a container that is making money for its owner. For the box leasing industry, a perennially thorny question is when, where and how to sell old or damaged units. As the leasing industry's container fleet has expanded at an impressive rate over the past two decades, so the number of older boxes coming up for 'retirement' each year has grown very fast. What to do with this burgeoning volume of older units has, therefore, for some time been a significant problem for the lessors. Furthermore, the ridiculously low prices of newbuild containers these days is, one would think, making the problem of the build-up of large numbers of older boxes even more serious. For example, how exactly is a lessor supposed to on-sell a 12-year-old unit for anything like its book value when the box was purchased for US$2,600 but can nowadays be replaced for US$1,400?
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