Use of intermodal tank containers on sea routes is expected to rise steadily around the world over the next five years, according to the International Tank Container Organization (ITCO).
”The study represents the first step in a series of ITCO initiatives to explain more fully the market prospects and capabilities of tank containers to a wide audience of existing and potential users,” said Reginald Lee, president of ITCO.
Because most new seagoing chemical tankers are being built with fewer but larger capacity cargo tanks than in the past, tank containers are poised to win more business involving the movement of specialty chemicals in bulk. In addition, chemical companies are expected to follow the current trend of outsourcing management of their tank activities increasingly to specialist tank container operators, according to ITCO.
Annual growth of tank containers being shipped from the United States to Europe and from Europe to the United States, as well as from the United States to Asia, is projected to grow between 0 and 5% in the next five years. Although the study did not address the use of tank containers traveling from Asia to the United States, industry representatives estimate that annual growth could top out as much as 5%, as well.
Similarly, the use of tank containers in Europe and on most other deep-sea routes worldwide is projected to expand by as much as 5% per annum.
Driven by the commissioning of new chemical production plants, particularly in China, tank container trade levels on the Asia to Europe route are set to expand by 5% to 10% per annum over the next five years, while the annual growth in the intra-Asian movement of chemicals using tanks will exceed 10%.