China's container sector is expected to experience the worst times in the first half of this year and consume 2.8 to 4 million tons of steel in 2009.
China's container sector is expected to experience the worst times in the first half of this year and consume 2.8 to 4 million tons of steel in 2009, down 30 to 50 percent year-on-year, according to Shi Yanqiu, general secretary of the China Container Industry Association. In 2008, domestic production and sales of containers dropped 10.53 percent to 2.32 million pieces (about 3.35 million TEUs) amid the weakening international demand due to the financial crisis, thin businesses, and a soft freight market.
She said the recovery of the industry this year will depend upon the revival of the world economy, and whether the business can return to a normal growth rate, the freight market can rebuild confidence, and shipping companies can raise enough money to buy containers.
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