The latest ITCO 2025 Global Tank Container Fleet Report reveals a noticeable slowdown in fleet expansion, reflecting broader economic pressures and shifts in global trade. While the tank container industry remains resilient, it is adapting to challenges such as supply chain normalization, fluctuating chemical production, and regional market disparities.

Key Takeaways from the 2025 Report

• The global fleet grew by 3.96% in 2024, reaching 882,023 tanks by January 2025. This is a notable decline from the 5.81% growth rate in 2023.
• New tank production fell to 42,123 units in 2024, a sharp drop from 56,600 in 2023, reflecting a more cautious market outlook.
• Tank disposals decreased to 8,500 (from 10,000 in 2023), suggesting a strategic shift toward longer asset lifespans and fleet optimization.

Total Fleet size (at January 01 of each year)

Source: Annual Global Tank Container Growth (1 Jan 2013 - 1 Jan 2025) - ITCO 2025 Global Fleet Report

Industry Challenges & Market Trends

The tank container sector has been shaped by economic slowdowns, regional market disparities, and shifting supply chain strategies.

European Chemical Industry Struggles:

• The sector saw a 6.6% contraction in 2023, followed by a modest 1.9% rebound in 2024.
• High energy costs, regulatory expenses, and weak demand led to plant closures and downsizing.

North America’s Resurgence:

• After a 0.6% decline in 2023, the US chemical sector rebounded with 3% growth in 2024, buoyed by stabilizing inflation and policy adjustments.

Asia’s Competitive Landscape:

• China and India continue to be major players, but China’s overcapacity issue is forcing market consolidation.
• Companies are exploring cheaper raw materials and strategic asset sales to maintain profitability.

Leasing & Operator Market Adjustments

• The top 10 tank operators increased their combined fleet to 301,750 tanks, representing just under 50% of the global market.
• The top 10 leasing companies slightly expanded their holdings to 319,733 tanks, making up 84% of the total leasing fleet.
• Idle tanks in leasing fleets decreased to 57,268 TEU, reflecting improved utilization strategies compared to 63,953 TEU in 2024.

What Lies Ahead?

Despite the slower growth rate, the tank container remains an essential component of global supply chains, particularly for chemicals, food, and gases. Key trends to watch in 2025 include:

• Continued fleet optimization and strategic disposals of aging tanks.
• Increased regionalization of supply chains, shifting away from globalized trade models.
• Digitalization & efficiency improvements, with ITCO leading new regulatory and sustainability initiatives.

As global fleet growth continues to outstrip economic growth, we foresee a continued tough market with oversaturation leading to price pressure.  It is therefore necessary to focus Leschaco’s energies on making the most of the assets we have, by pushing for quick turnaround at local depots and selling available capacity proactively.  Shifting supply chains due to feedstock price changes and geopolitical influences will continue to drive tank stocks in a manner which is less typical than normal, meaning unpredictability in volumes per region. Tank stock situations globally for Leschaco will therefore remain fluid and require constant joint attention.