Company: TRTN-PA
Filing Date: 2025-08-01
Form Type: 6-K
Source: 0001660734-25-000025
Chunk: 32

Company: Triton International Ltd
Filing Date: 2025-08-01
Form: 6-K
Chunk 32
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   4.9 |   |     |                                     |  19.5 |   |
| Special                 |     |                                       |   2.3 |   |     |                                     |   3.4 |   |
| Tank                    |     |                                       |   0.3 |   |     |                                     |   1.3 |   |
| Chassis                 |     |                                       |   0.6 |   |     |                                     |   1.7 |   |
| Equipment leasing fleet |     |                                       |  98.8 | % |     |                                     |  99.1 | % |
| Equipment trading fleet |     |                                       |   1.2 |   |     |                                     |   0.9 |   |
| Total                   |     |                                       | 100.0 | % |     |                                     | 100.0 | % |

(1) Owned and managed equipment is included in the table above.

TEU and CEU are standard industry measures of fleet size and are used to measure the quantity of containers that make up our revenue earning assets. CEU is a ratio used to convert the actual number of containers in our fleet to a figure based on an estimate for the historical average relative purchase prices of our various equipment types to that of a 20-foot dry container. For example, the CEU ratio for a 40-foot high cube dry container is 1.70, and a 40-foot high cube refrigerated container is 7.50. These factors may differ slightly from CEU ratios used by others in the industry.

#### Operating Performance
Our operating and financial performance remained solid in the second quarter of 2025. The mutual reduction in tariffs between the US and China resulted in the front-loading of U.S. imports from China in advance of the traditional peak shipping season, leading to a temporary increase in container demand during the middle of the second quarter. However, the anticipated implementation of new tariffs on global trading partners scheduled to take effect in August, along with additional tariff announcements and escalating geopolitical tensions in the Middle East, led to heightened uncertainty in global supply chains. These factors resulted in a decline in demand as the quarter concluded and the industry approached the traditional peak shipping season. As a result, there was limited new leasing activity and a gradual decrease in utilization during the second quarter.

Our average utilization decreased in the second quarter of 2025 compared to the first quarter of 2025 but remained at a relatively high level,