1992 IICL released three reports in 1992: General Specials & Dispositions Chassis & Domestic Containers

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1 1992 IICL released three reports in 1992: General Specials & Dispositions Chassis & Domestic Containers IICL FOURTH ANNUAL LEASED CONTAINER FLEET SURVEY April 6, IICL has released preliminary figures on containers from its Fourth Annual Leased Container and Chassis Fleet Survey. The survey shows that as of the beginning of 1992 the world container leasing fleet stood at almost 3,000,000 TEU and is expected to reach 3.3 million by the end of Industry majors bought approximately 325,000 TEU in 1991 and plan to buy over 480,000 TEU in January 1 marked a milestone for the world container leasing industry as its fleet reached approximately 3,000,000 TEU for the first time. A marked increase in expansion should bring the fleet to over 3.3 million by the beginning of 1993, stated Edward A. Woolley, Secretary of IICL. Industry majors had 2,645,609 TEU of international containers at the beginning of 1992; other leasing companies were estimated to have had 330,000 TEU. This represented a total of 2,975,609 TEU as of the beginning of the year was the fifth good year in a row for the container leasing industry. Container utilization stood at 88.2% for the major companies, a figure which is not attained every year. Container leasing has historically been a cyclical industry, and healthy utilization cannot be expected to be repeated every year, stated Mr. Woolley. Industry majors expect to add 487,119 TEU, worth an estimated $1,440,000,000 during ,344 (86.2%) will be dry vans; 36,866 (7.6%) will be high cubes; 1,300 (0.3%) will be tank containers; 12,950 (2.7%) will be reefers; 8,789 (1.8%) will be open tops; and the remaining 6,870 will be flat racks and other types. The figures referring to industry majors include IICL members Cronos, Genstar, Trans Ocean, Transamerica, Textainer and Triton and also CLOU, Matson, Sea Containers and Tiphook which participated in the survey. Matson has been added to this group for the first time this year. International Fleet: Types. The industry majors January ,645,609 TEU consisted of: Dry Vans 2,258,919 High Cube 144,385 Tanks 8,543 Reefers 92,636 Open Tops (and Sides) 76,230 Flat Racks (w & w/o Frames) 51,003 Bulk Containers 2,451 Others 11,442

2 Sizes. The percentage of 40 footers increased to 57.77% of majors TEU from 54.95% in January The majors January 1992 totals consisted of: 20 Foot Boxes 1,113, % of Majors TEU 40 Foot Boxes 764, % of Majors TEU 45 Foot Boxes % of Majors TEU 48 Foot Boxes % of Majors TEU Other Sizes % of Majors TEU Further details on specials, chassis, swap bodies, domestic containers and dispositions will be described in forthcoming reports IICL CONTAINER SURVEY SECOND REPORT: SPECIALS AND DISPOSITIONS June 25, IICL s Second Report on its 1992 Annual Leased Container and Chassis Fleet Survey shows that the leasing industry continues to make substantial investments in specials. Specialized containers held by industry majors totaled 386,692 TEU in January 1992, or 14.6% of the majors 2,645,609 TEU, and major investment is contemplated in Edward A. Woolley, Secretary of IICL, stated, As of the beginning of the year, the majors planned to buy an additional $384,930,000, or 66,800 TEU, of specialized containers in The investment in specials is a very substantial share, 26.7%, of the majors total projected investment of $1,440,000,000 in new international containers for The Second Report also shows that the majors disposed of 112,362 TEU or % of the 2,391,743 TEU of all holdings that they had in January If other leasing companies disposed of their January 1991 fleet (estimated at 350,000 TEU) at the same rate, total dispositions for the container leasing industry for 1991 were an estimated 128,805 TEU. Specials. The changes in specials ranged from increases of 15.8% in platform based and flat rack containers and 17.2% in other types (largely ventilated) to a drop of 27% in bulk containers. The change in reefers is less statistically significant than might appear, because the 1992 figures include data from one company not reporting last year. Tanks had increased by over 30% the previous year but dropped back to 10.3% for the year ending January Other increases included 8.3% for high cubes and 3.5% for open tops. The figures referring to industry majors include IICL members, Cronos, Flexi-Van, Genstar, Textainer, Trans Ocean, Transamerica and Triton, and also CLOU, Matson, Sea Containers and Tiphook, which participated in the survey.

3 JANUARY 1992 TEU JANUARY 1991 TEU % INCREASE (DECREASE) Tanks 8,544 7, % Reefers 92,636 69, High Cube 144, ,287 Open Tops + Sides 76,231 73, Platform + Flat Racks 51,003 44, Bulk 2,451 3,358 (27.0) Other 11,442 9, Total 386, ,777 Purchases of specials planned by the major leasing companies for calendar 1992 will total 66,800 in TEU and $384,930,000 in value. These include a major increase in planned purchases in the high cube category where expected 1992 acquisitions exceed 1991 plans by 185.3% in terms of TEU. The majors planned purchases for 1992 include: Tanks Reefers High Cube Open Tops Platform + Flat Racks Others Total 1,300 TEU 13,000 TEU 36,800 TEU 8,800 TEU 6,600 TEU 300 TEU 66,800 TEU Comparison of the January 1992 specials fleets with 1991 shows where the 1991 increases took place (reefers are not comparable as stated above) dispositions of all containers for the full container leasing industry were estimated to be 128,805 based on the % rate for the majors. IICL s First 1992 Report stated that major leasing companies fleets had reached 2,645,609 TEU in January 1992 and that the total January 1992 world leasing fleet was about 2,975,609. If the disposition rate of % is applied to the January 1992 world leasing fleet of 2,975,609 TEU, world scrapping by leasing companies will be 139,791 TEU in Projected December 1992 World Leasing Fleet. The end 1992 world leasing fleet can thus be calculated as follows: January 1992 Leasing Fleet 2,975,609 TEU 1992 Dispositions 139, 791 TEU 2,835,818 TEU 1992 Purchases 526,719 TEU December 1992 Leasing Fleet 3,362,537 TEU

4 These represent substantially higher rates of acquisition than in the recent past. Further details on chassis and domestic containers will be forthcoming in a Third Report. CHASSIS LEASING GROWS IN 1991; U.S. DOMESTIC CONTAINERS GROW AT HEALTHY RATE: 1992 IICL FLEET SURVEY THIRD REPORT July 8, The Third Report on IICL s 1992 Fleet Survey reveals that the U.S. leased container chassis fleet continued to grow in 1991 to about 194,806 units. While the domestic container industry remains small, the leasing company share of that industry enjoyed a substantial increase to reach 25,000 intermodal units (18,000 U.S.; 7,000 non-u.s.). The European swap body industry remains small, at least so far as leasing companies are concerned. Leasing companies owned less than 5,000 European swap bodies. Chassis. IICL s third and final report on the leased equipment fleet focuses principally on chassis and domestic containers. IICL estimates that in January 1992 the leasing company fleet of U.S. chassis stood at 194,806, stated Edward A. Woolley, Secretary of the container and chassis leasing trade association. Ship lines are estimated to own about 167,500 units, giving a total for the U.S. of about 362,306 chassis. Of this figure, about 50,000 U.S. chassis owned by foreign ship lines and others were added to the survey this year for the first time. IICL s chassis fleet consisted of 134,250 units in January 1992, including 46,881 units in the foot category, 79,767 in the foot category and 7,602 others, principally of the foot extendable variety. By far the largest U.S. chassis owner is Flexi-Van Leasing, Inc. Other IICL members are Genstar, Transamerica Leasing, Trans Ocean, Cronos, Textainer and Triton; the first three are chassis lessors. Other U.S. leasing companies are estimated to own 19,297 chassis in the foot group, 34,641 units feet long and 6,618 extendables and others. IICL member chassis utilization stood at 88.47% in The Survey suggests that the leasing industry will be purchasing a number of chassis in Purchases of new units by IICL members will total 10,950 units worth $70,750,000. IICL members expect to purchase 1,850 chassis in the foot length of a value of $12,850,000, 4,950 chassis in the foot length worth $29,700,000 and 4,150 other kinds, costing $28,200,000, including chassis for domestic containers. Dispositions by IICL members in 1991 ran at 933 in the foot length and 269 in the foot length. Domestic Containers. The domestic container scene reflects a different and growing industry; it remains tiny but is growing consistently at a very healthy percentage increase. This part of the survey included figures from IICL and three other major leasing companies: Sea Containers, Tiphook and Xtra. The majors domestic container fleet for all countries increased to 51,654 TEU in January 1992, rising from

5 18,744 TEU in January 1991, 10,870 TEU in January 1990 and 4,946 TEU in January 1989 (a 48 foot container equals 2.4 TEU). The figures are not fully comparable since some leasing companies did not report last year. Mr. Woolley noted, The U.S. share of the business is sizeable. 43,452 TEU, consisting of 18,071 individual intermodal units, were U.S. domestic containers, while 8,202 TEU (6,938 units) were of a non-u.s. variety. IICL members predicted that in 1992 they would purchase in excess of 6,200 domestic containers. These will be worth more that $45,000,000. Major leasing companies held fewer than 5,000 European swap bodies in January 1992, and it is not clear whether any substantial investment may be expected in 1992.