Global trade is increasing day by day, and each year thousands of new shipping containers are used to move quite a large amount of cargo. Trade is getting diverse. Traders frequently raised the question of how to buy shipping containers? The shipping container market is ever-evolving. It is challenging to keep up with the rapidly growing market scenario.
Shipping Container and Its Versatile Evolution
Maritime Shipping containers started their journey in 1956 in the hands of an American entrepreneur Malcolm McLean. McLean’s attempt has enabled cargo logistics to be cost-effective and time efficient.
Today, we have millions of metal shipping containers taking trips worldwide to trade tons of cargo. The globe depends on them to carry out nearly trillions of dollars in trade. According to IMARC Group, the global container market size was a whopping USD 9.7 Billion in 2020. As per their prediction, we could expect more maritime containers to join the existing fleet each year. The market is to see a 4.6% annual growth by 2026.
How does a container trader keep stock of the rapidly growing container market and decide how to buy shipping containers? Worry not! We bring a detailed guide to the frequently raised concern of how can I buy a shipping container!
Let’s look at some of the insider’s tips below:
Consult the Types
With time, as the market and demand increased, there was increasing innovation around container types to facilitate customized treatment to different categories of goods. Given that there are distinct variations in the market, how does one go about choosing a suitable style? It is better to do preliminary research on the different metal shipping unit variants. Then verify your research with expert consultation for added measures.
As we know, there are distinct variations in the market. And it won’t do if you confuse the difference between insulated containers and refrigerated containers. Your goods might bear the brunt of your ignorance in the matter.
For example, standard insulated containers help retain the inherent temperature of cargo for a more extended period. It is suitable for temperature-sensitive items like foodstuff. It does not have a built-in refrigeration unit. But, some items require a built-in refrigeration unit to store them. Here refrigerated containers or reefer containers suits the purpose efficiently.
Size of the Container
Deciding the size could be similarly tricky as the type. For example, standard20ft and 40ft shipping containers are suitable for facilitating a wide variety of goods. But what would one do in case the standard size does not work. Is there any other option to customize your carriage?
Yes, there are market options like 20 ft and 40 ft pallet wide containers, flat rack containers, open-top containers, or high cube containers. Flat rack containers provide extra space and leverage to wide and protruding objects. Removable open-top containers could also be an excellent option to carry both ordinary things with the top in place. In case of protruding objects, remove the open rooftop. Do consult with experts before you buy cargo containers. It is better to purchase metal shipping containers that can be readily customized.
Decide the utility for the Container
Steel shipping containers are versatile items by nature. It is not that they are used only for trading. People use them for innovative purposes, from making mini-film theatres to cafes. If you are buying for trade, you can purchase new or second-hand containers. However, if you are thinking of constructing container homes, old freight units are suitable for cost-effective and environmental benefits.
Regardless of the utility, there is no doubt that quality is necessary whether you decide to build a home or keep them for storage. Check out the market for container selling companies. Verify their market reputation and quality standard testaments from reliable sources. Then, you can take your time to compare and choose the best supplier to get the best results.
Know the Market Stock and Price
Before you choose a purchase plan or negotiate a final deal, you need to thoroughly look at the market stock and prices. Know the standard pricing and sufficient maritime unit stock to efficiently fulfill your requirement without any hitch.
Sometimes if the market does not have sufficient stock, the price increases. Do check for other options if you see the high price from local traders due to stock shortage. Regional or global suppliers may surprise you with their market-competitive fees.
Market knowledge will give you proper backing to go a step ahead on 'How to buy shipping containers!’ Next up, you need to decide whether to buy or rent shipping containers. They are costly items. Significant upfront capital expenditure is required to buy them. What if you need them for the short term? Buying would not be a wise solution for your budget. Here, it is better to hire metal shipping containers. Ask for a suitable purchase plan according to your budget and requirement.
Research and Verify Container Grades
Shipping containers come with a grade status to denote their condition and age. They generally have grades like Cargo Worthy (CW), Wind and Water Tight (WWT), IICL, and others. These statuses will decide on their utility. For example, if the shipping unit is wind and watertight or cargo worthy, the trader may choose to purchase them regardless of any scratches or dents.
Here, it is necessary to note that although grades give a relative idea about the freight box’s condition. The functional condition may vary because every supplier grades their stock differently. Therefore, it is better to do preliminary research on grades and verify their gradation system with your supplier. So that you know to expect a certain level of dents, scratches, or rust if you are buying a cargo-worthy steel shipping unit.
Inspect Container Condition
Shipping container grades give a relative idea about the condition. But, it is necessary to check their actual condition before buying. In case you want expert guidance, you can hire a surveyor. The surveyor will be able to give an expert opinion on the Container’s condition. It is necessary to attest to the unit’s condition and its relative lifespan from the time of purchase.
If you are buying, it is necessary to have a storage plan. Freight containers are steel-made sturdy items. But, if they get prolonged exposure to a moisture-laden atmosphere, they will quickly gather rust and slowly corrode. Therefore, it is wise to store your maritime boxes in a storage facility to maintain their condition.
After you purchase or lease cargo containers, you need to get them delivered to their desired location. Ask your supplier if they have any free delivery service. If not, you will need to hire an additional delivery service for your purchase. Delivery will cost extra. So, choose a supplier who has associated delivery service with their products.
Sketch up Maintenance Plan
Maintenance is the key to keeping the container’s health in check. Even if you store them in a storage facility, they will require regular monitoring and maintenance to retain their structural strength and longevity. It is mandatory to prepare a maintenance plan as a backup.
Why LOTUS Containers? Freight containers have huge market demand, and many market players are ready to supply them. LOTUS Containers assure you with premium quality container solutions. With our globally established network, we keep a steady stock of supply. Our regular stocks help us to provide the customers with market-competitive pricing. Next up, let us take you to the customized purchase plans to suit different requirements. You can lease or purchase shipping containers in California, Miami, Ohio, or worldwide. Our lease plans primarily work with the various trade patterns, be it seasonal trade or one trip.