Date: Wednesday, January 19, 2022
Source: Splash 247
TT Club, an insurance company, has warned on the risks of more and more old containers being pressed back into circulation during the ongoing supply chain crisis.
“One of the immediate repercussions of equipment imbalances, shortages and increase in new equipment costs has been a tendency for owners and operators to retain equipment that would ordinarily have been retired from service,” the TT Club stated in an update to clients.
There has also been anecdotal evidence of containers being brought back into service from retirement leading to concerns about stack collapses at sea.
“Ensuring that controls, processes, records and, importantly, maintenance regimes remain valid is critical to underpin safety,” the TT Club stressed.
With containers taking at least twice as long to reach their destination during the pandemic, and a severe lack of available empties at many locations across the world, the Chinese, who control more than 95% of box production, are ramping up the manufacturing of new containers this year.