Global production of shipping containers has slumped dramatically as demand for goods sinks following the easing of pandemic restrictions, leaving the corrugated steel boxes to pile up at major ports.
Figures provided to the Financial Times by Drewry, a maritime research consultancy, show that production of 20-foot container equivalent units — the industry’s standard size — fell by 71 per cent from 1.06mn to 306,000 between the first quarter of 2022 and the same period this year.
The decline marks a sharp reversal from two years ago, when container manufacturing boomed in response to a pandemic-induced surge in demand for physical goods, which led to a shortage of the rectangular boxes.
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