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The Maine – XOXO: From Love And Anxiety In Real Time
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The Maine discuss XOXO: From Love & Anxiety In Real Time
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by Tyler Durden
By Greg Miller of FreightWaves,
When will the container capacity crunch finally ease? For an early indicator, keep an eye on production of the humble 40-foot dry cargo box. If the volume and cost of new containers pull back, supply chain pressures are abating. Unfortunately for beleaguered cargo shippers, these bellwethers now imply the opposite: that the scramble for container capacity is growing even more intense.
New container prices still rising
On Tuesday, the world’s largest container-equipment leasing company, Triton International, announced record results and provided the latest intel on box production.
The price of a new container, which had stabilized at around $3,500 per twenty-foot equivalent unit (TEU) earlier this year, has risen again and is now at $3,800 per TEU. Prices are “at unprecedented levels,” said John O’Callaghan, Triton’s global head of marketing and operations, during the call with analysts.
Operator
Good morning and welcome to the Triton International Limited Second Quarter 2021 Earnings Conference Call. [Operator Instructions] After today s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.
I would now like to turn the conference over to John Burns, CFO. Please go ahead.
John Burns
Chief Financial Officer
Thank you. Good morning and thank you for joining us on today s call. We are here to discuss Triton s second quarter 2021 results which were reported this morning. Joining me on this morning s call from Triton is Brian Sondey, our CEO; and John O Callaghan our Head of Global Marketing and Operations.