CHEAP DEBT CLOUDS BOX LEASE RATES

摘要

Lower prices for new containers, coupled with attractive loans in the first half of 2013, saw opportunistic shipping lines return as box pool buyers, although the spending spree lost momentum in the second half. The third quarter results of the big three listed container lessors - Textainer, TAL and CAI - were consistent in suggesting a short-lived swing back to container line purchasing sentiment in the first part of 2013. However, the highly competitive pressure on new leasing contracts saw per diem rates unacceptably low for the container pool majors, who opted to walk away from unattractive deals. Textainer, the largest container lessor with a total fleet of nearly 3m teu equivalents, 75% of which is wholly-owned, expects the highly competitive market conditions to continue for the near term.