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Article World Cargo News April 2007 edition

 

Trifleet grows
Despite the influx of 500 new tanks in 2006, boosting its total fleet size to 9,000 units, Trifleet Leasing still managed to boost average fleet utilisation, calculated on the basis of paid rental days, by 6% during the course of the year.

 

"We experienced a very strong market demand for our services worldwide last year," states Philip van Rooijen, Trifleet's managing director. "Although the US market slowed during the summer, picking up again slightly at the end of the year, European and Asian customers continued to show a high interest in leasing tank containers. One exception, however, has been the demand for gas tanks which sharply declined during 2006, with major companies offhiring most of their tanks of older design."

 

Last year was eventful in other ways for Trifleet. After intensive discussions with majority shareholder ING Lease, a management buyout (MBO) was effected in October 2006, with support from investors in tank containers managed by the company and several financial institutions. As a result of the transaction; the management team, led by van Rooijen, acquired the majority of the shares in; the company.

 

After taking into account  corrections relating to the MBO, Trifleet achieved normalised gross revenues ot' €23, 3M in 2006. Looking to the year ahead, the lessor anticipates continued strong demand for its services. However, Trifleet is being less aggressive on the tank container newbuilding front than some of its competitors. In view of the fact that leasing rates have still not picked up to a level that reflects the current increased cost of a new tank container, we have reduced the inflow of new tank containers to approximately 150 for 2007,'' explains van Rooijen.

 

"Going forward, we are reacting to meet changing customer needs in various ways. In response to the ever-increasing requirement for fast, electronic information, Trifleet Leasing provides its customers worldwide with access to real-time information on leased tanks and contracts through a modern extranet service. We are also adapting our operation to cope with the increasing number of enquiries for special tanks that leasing companies are now receiving. This business is posing challenges to lessors, as the remarketability of specials is generally lower."