From the course: International Logistics
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Containerization
From the course: International Logistics
Containerization
- For the past three decades, the global logistics market has grown an average of 5% per year. And its expected to grow even faster over the next 10 years. One of the things that stimulated this growth was the invention of the shipping container many years ago. On the surface, it's a pretty simple idea. Create a metal container that is filled by the exporter and shipped to the importer. But there's one specific attribute that made a big difference. Making the container a standard size. Shipping containers are eight-feet-wide and 8.5-feet-tall and can come in different lengths, but the standard length is 20-feet. In fact, this standard container has actually become a unit of measure for the logistics industry. It's called 20-foot equivalent units, or TEUs, and all containers are described in terms of the number of TEUs. A 40-foot long container, for example, is equal to two TEUs, and a container ship's capacity is…
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