Why It Pays to Track Your ISO Containers

ISO containers not only remain ubiquitous in the freight industry; there continues to be growing demand for them. 

According to a Forbes Business Insights report, the global ISO container market size is projected to grow from 869,500 units in 2024 to 1,832,400 by 2032, displaying a compound annual growth rate (CAGR) of 9.8% during that time period. A separate report from Future Market Insights predicts a similar trajectory for the global ISO container industry. Its findings project the market to grow from its 2024 valuation of $254.5 million to $470 million by 2034, exhibiting a CAGR of 6.3%. 

Though rising demand for ISO containers continues to impact freight transport, container tracking solutions are combatting setbacks like asset theft and loss, along with delays.  

Factors Impacting the July-to-August 2024 Import Season

The mid-year import season is proving to be especially busy this year. Compared to June 2019, import bookings for 20-foot equivalent containers were up 27% in June 2024, according to FreightWaves. And compared to June 2023, they were up 11%.  

Increased import bookings in the face of adverse conditions put businesses at high risk of several setbacks: 

• Busier ports can lead to lost or misplaced ISO containers. 
• Port booking backlogs can subject shipments to idle time. 
• Inhibited infrastructure and labor shortages can create a customs bottleneck. 
• Limited carrier capacity can spike shipping costs as import demand grows. 

In action, these costly impacts can quickly add up. For instance, if your company rents 150 ISO tanks, each for $750 per month, an unforeseen, two-week delay can set you back by $56,250 in rental costs — and that’s without accounting for the value of the tank’s contents or the potential loss of your customer for whom your shipment missed a delivery date. 

Gain Complete ISO Container Visibility

Though companies that book imports can never fully absolve themselves of risk, they can certainly minimize the odds of things going wrong. 

By enlisting the help of asset intelligence technology, businesses gain the insights they need to minimize ISO container loss, theft, and delays. The best solutions blend hardware and software components to paint a full picture of your assets’ whereabouts.  

A massive benefit of having access to tracking software is that it eliminates the need to rely on third-party providers for updates, which can take hours, and in some cases, days. With full visibility at your fingertips, you can make timely, data-informed decisions on your watch.  

Knowing your freight’s whereabouts also helps you gauge accurate delivery times for more predictable lead times, ultimately strengthening customer trust and process efficiency. Tracking ISO container locations in near real time — and receiving notifications of unauthorized movement — can prevent theft and misplacement. Asset trackers can help you recover shipments more quickly than a search team would. Asset intelligence technology also informs you of your equipment’s idle time, which you can track to improve asset utilization. Lastly, you can reduce costs by mitigating your risk of demurrage and detention fees. 

Increasing your Intermodal Container Visibility

Geoforce built its asset trackers to withstand the most rugged conditions. Our devices are durable enough to handle shipping, whether by rail, truck, barge, or air, compatible with dry containers, reefer containers ​​​​and ISO tanks. And you can rely on our specialized line of ATEX and Zone 0 certified trackers for hazardous locations and materials.  

Pairing asset trackers with the Geoforce Platform gives businesses asset visuals, near real time locations, proactive theft notifications, geofencing capabilities, idle time tracking and more. Together, these features mitigate each of the risks that come with transporting ISO containers, ultimately cutting costs and delivering a hefty return on investment. 

Track Your ISO Containers & Realize Cost Savings

As the uptick in ISO shipping continues, so too will the challenges that come with it. Equip yourself with solutions that mitigate the many risks that come with importing freight.  

With the potential for cost savings, the return on investment that comes with asset intelligence solutions is a no-brainer. Get a quote today. 

Citations & References:

ISO Container Market Size, Share & Industry Analysis, By Transport Mode (Road, Rail, and Marine), By Capacity (Below 20,000 Liters, 20,000 – 35,000 Liters, and Above 35,000 Liters), By Container Type (Multi-Compartment Tank, Lined Tank, Reefer Tank, Cryogenic & Gas Tank, and Swap Body Tank), By End-Use Industry (Chemicals, Petrochemicals, Food & Beverage, Pharmaceuticals, Industrial Gas, and Others), and Regional Forecast, 2024 – 2032.” Fortune Business Insights, Fortune Business Insights, 20 June 2024, www.fortunebusinessinsights.com/industry-reports/iso-container-market-101387.   

Kaitwade, Nikhil. Future Market Insights, https://www.futuremarketinsights.com/reports/iso-tank-container-market. Accessed 26 June 2024.  

Strickland, Zach. “What Nearshoring?” FreightWaves, 15 June 2024, https://www.freightwaves.com/news/what-nearshoring. Accessed 26 June 2024.