A container that is strong enough to withstand handling, storage, and shipping is called a shipping container. Large reusable steel boxes for intermodal shipments and common corrugated boxes are both examples of shipping containers. Shipping containers enable commodities movement without unloading or reloading. Rail, ship, or truck can move these containers. Thus, intermodal freight transit has improved. Shipping containers simplify freight management. It also eliminated shiploading and unloading, saving time and resources. In recent years due to COVID-19, due to the epidemic, electronic trading and lockdowns have increased demand for manufactured consumer goods, most of which are shipped in shipping containers. Ships need containers. Pandemic has weakened maritime supplies. As governments lifted restrictions, approved national stimulus packages, and businesses stored up for future pandemic waves, maritime trade flows soared. Thus, business trends and consumer habits are expected to drive the industry. The substantial rise in the sea borne trade and increased number of manufacturing and construction industries’ is predicted to fuel up the demand for the containers.
The Global Shipping Container Market is expected to grow at a CAGR of 6.1% during the forecasted period (2022-2030).
Top Companies in the Shipping Containers Industry
1. China International Marine Containers Co.Ltd.
China International Marine Containers Co.Ltd. primarily manufactures and sells transportation equipment, including containers, road transport vehicles, and airport ground-handling equipment, founded in 1980 and headquartered in Guangdong, China. The Company distributes its products in domestic market and to overseas markets. In Aug 2022, China International Marine Containers and Maersk Container Industry, two global shipping container manufacturers, announced in a joint statement that they had abandoned a merger due to regulatory difficulties. China International Marine Containers (CIMC) bought chilled container maker AP Moeller – Maersk for USD 987.3 million in September 2021. The U.S. Department of Justice claimed the merger would have merged two of the world's four refrigerated shipping container providers and concentrated the worldwide cold supply chain.
2. Sea Box, Inc.
Sea Box, Inc. is a company that designs, manufactures, and customizes modular construction systems, refrigerated shipping and storage containers, containerized shelters, and related parts and accessories for sale or rental, founded in 1983 and headquartered in New Jersey, United States. It operates maintains an international presence with locations in South America, Europe, Asia, and Australia. In 2021, together, SEA BOX, Inc., Square Roots (an innovator in urban farming), and Gordon Food Service (the largest family-owned broadline food distributor in North America) are bringing containerized farming to the city. These customized, state-of-the-art shipping containers employ distributed data networks in climate-controlled modules to provide adaptability. Teams of urban farmers that are cloud-connected and data-enabled remain informed with real-time data.
3. Singamas Container Holdings Limited
Singamas Container Holdings Limited is a container manufacturing company and operator of terminals and container depots, founded in 1988 and headquartered in Shanghai, China. It operates 4 facilities in the country. In June 2022, the Shanghai Baoshan Factory and Xiamen Factory supplied 41 and 100MWh/200MWh energy storage containers for the Jinzhai Intelligent Storage Demonstration Project. This project explored China's 100-megawatt energy storage power plant development and construction.
4. China Cosco Shipping Co. Ltd.
China Cosco Shipping Co. Ltd. commonly known for its abbreviated name COSCO Group, or simply, COSCO, is one of the major holding companies for COSCO Shipping, one of the world's largest shipping companies, founded in 2016 and headquartered in Shanghai, China. It operated in 142 countries. COSCO SHIPPING Lines owned and operated 368 container vessels with a total capacity of approximately 2.1 million TEUs as of the end of April 2023 (the Company and Oriental Overseas International, a subsidiary of COSCO SHIPPING Holdings, owned and operated 477 container vessels with a total capacity of 2.9 million TEUs, ranking first in the industry in terms of shipping capacity).
5. TLS Offshore Containers International
TLS Offshore Containers International is a global supplier of customizable, high-quality functional containers, founded in 1995 and is headquartered in Singapore. It operates in countries around the world, including the UAE, Bahrain, Australia, Canada, and Chile. In May 2023, TLS Offshore Containers made tremendous progress in the energy sector with their entire range of BESS container manufacturing services. These energy storage containers combine safety, efficiency, and sustainability with cutting-edge design and technology. They demonstrate TLS's dedication to providing comprehensive solutions to global clients.
6. CXIC Group Containers Company Limited
CXIC Group Containers Company Limited is a private enterprise involved in manufacturing, trade, transportation, research and development, was founded in 1996 and headquartered in Changzhou, China. It operates in over 40 countries.
7. W&K Container Inc.
W&K Container Inc. is an established quality - certified company with worldwide distribution capabilities with the ability to manufacture new or modified ISO containers, as well as source used and modified shipping containers on an expedited basis for worldwide delivery, was founded in 1995 and headquartered in California, United States. It operates across the world.
8. Maersk Container Industry
Maersk Container Industry makes shipping containers and specializes in refrigerated containers and special containers, founded in 1904 and is headquartered in Denmark. It operates in 20 countries. In May 2023, Maersk announced a strategic review of its container manufacturing business and concluded that it would sell the business to CIMC.
9. YMC Container Solutions (a division of Thurston Group Limited)
YMC Container Solutions (a division of Thurston Group Limited) is a global container manufacturing company, founded in 1970 and is headquartered in the United Kingdom. It has two manufacturing facilities located in Brandesburton and Wakefield.
*Definition: A shipping container is a container with strength suitable to withstand shipment, storage, and handling. Shipping containers range from large reusable steel boxes used for intermodal shipments to the ubiquitous corrugated boxes.
