Great news regarding the ocean container shortage
Triton International is a curious service that the whole shipping world is waiting on to fix the shortage of containers and fix the congestion plaguing international movement of cargo by ocean.
Why would I make such a statement?
29APR2021 Triton held a conference call for investors spelling out a huge order for containers that claims to be ready by July of 2021. Yay! They have ordered $2.6 billion of containers…or a count of 890,000 TEUs. https://www.tritoninternational.com/sites/triton-corp/files/Presentations/investor-presentation-may-2021.pdf
Triton leases containers to carriers with a market share near 35% of all leases. They are a big player in this space and this purchase will surely help worldwide.
According to their press release, they have a utilization rate of leased containers at nearly 100% and many long-term leases in the works.
This makes for a well run company that has taken on a task that many will appreciate.
While July delivery will help the issue of worldwide shortage, it may take a little time for distribution. I am going with a half full attitude.