Production of containers is strongly decreasing in line with the falling demand for freight services following the boom period of the pandemic, Financial Times reports. 

Manufacturing of standard-sized boxes dropped by no less than 71 percent between last year’s and this year’s first quarter, namely from 1.06 million to 306,000 units.

The development sharply contrasts the Covid period when container manufacturers had plenty to do keeping up with the demand for new boxes.

Falling exports have since left the segment with the opposite problem. An abundance of containers threaten to overwhelm the ports in China, which represents 95 percent of the global container production.

The World Trade Organization (WTO) expects growth in exports to stay weak for the rest of the year. Demand for boxes is thus likely to remain low as well, according to Financial Times.

English edit: Kristoffer Grønbæk