7.5   Container production
	It is even clearer from the data on annual container production (see Table 6) how dominant high-cube 40' containers are. In 2004, they made up 82% of the global production of TEUs.   Year 20' Integral 40' Integral 40' HighCube Integral Porthole (Conair / insulated) Total 1990 11,500 17,000 14,500 4,000 47,000 1991 5,000 8,500 16,000 4,000 33,500 1992 10,000 17,500 24,000 10,500 62,000 1993 12,000 13,000 28,500 4,500 58,000 1994 10,500 13,000 40,000 2,500 66,000 1995 12,500 17,000 50,500 1,000 81,000 1996 11,000 6,500 61,000 500 79,000 1997 11,000 6,500 73,000 500 91,000 1998 10,000 7,000 76,500 500 94,000 1999 11,000 4,500 74,000 500 90,000 2000 9,500 2,500 88,000 1,000 101,000 2001 9,500 500 86,000 1,000 101,000 2002 16,000 300 97,500 1,200 115,000 2003 11,000 200 122,500 1,300 135,000 2004 10,500 200 132,000 2,300 145,000 All figures in TEU Source: World Cargo News June 2004 Table 6: Annual production of refrigerated containers from 1990-2004 by size and type     Year Annual production Added to fleet Replaced in fleet Fleet size at the end of the year 1990 43,000 35,000 8,000 294,000 1991 29,500 23,000 6,500 317,000 1992 51,500 46,000 5,500 363,000 1993 53,500 48,000 5,500 411,000 1994 63,500 55,000 8,500 466,000 1995 80,000 60,000 20,000 526,000 1996 78,500 52,000 26,500 578,000 1997 90,500 68,000 22,500 646,000 1998 93,500 67,000 26,500 713,000 1999 89,500 65,000 24,500 778,000 2000 100,000 70,000 30,500 848,000 2001 96,000 67,000 29,000 915,000 2002 113,800 71,000 42,800 986,000 2003 133,700 57,000 76,700 1,043.000 2004 142,700 78,500 64,200 1,121.500 All figures in TEU Source: World Cargo News June 2004 Table 7: Production, increase in stock and replacement of integral refrigerated containers from 1990-2004     The figures on the requirements for replacing container stock (Table 7) are also of interest. They show a very substantial requirement to replace stock has developed since 1994. This reflects the fact that containers built at the beginning of the 1980s have come to the end of their 12 to 15 year working life. It can therefore be assumed that the requirements for replacing stock will increase even further in the future.   Table 8 shows container production and present production capacity by region. The excess capacity in China is particularly noticeable. This excess capacity has led to a dramatic drop in the price of refrigerated containers and a decline in production capacity in other regions. Refrigerated containers are as a result no longer manufactured in the USA, Japan and even South Korea.   Region Production in 1995 Production in 1996 Production in 1997 Production in 1998 Production in 1999 Production in 2000 South Korea 46,450 38,000 34,200 34,500 35,800 27,500 China 400 4,900 20,500 24,500 31,100 52,000 Japan 11,350 7,400 6,500 3,700 - - Taiwan 10,500 5,000 4,500 - - - Mexico 2,500 10,500 6,300 6,000 6,200 - USA 3,000 3,500 6,500 6,200 1,600 - Europe 5,500 8,800 12,000 17,000 14,400 21,000 Other 300 400 - 2,100 900 500 Total 80,000 78,500 90,500 94,000 90,000 101,000 Region Production in 2001 Production in 2002 Production in 2003 Production in 2004 Current production capacity (2004)* South Korea 2,700 - - - - China 72,700 94,400 115,000 127,500 165,000 Japan - - - - - Taiwan - - - - - Mexico - - - - - USA - - - - - Europe 21,000 20,000 19,500 17,000 20,000 Other 600 600 500 500 2,000 Total 97,000 115,000 135,000 145,000 187,000 All figures in TEU *Based on multiple-shift operation Source: World Cargo News June 2004 Table 8: Production of refrigerated containers by region 1995-2004

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