It depends how thick the pallets are.
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My friend, you just said the height. :P You just said that it is a 40 feet high cube. Since a cube has equal lengths all over, the width would obviously be 40 feet as well.
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Standard 55 gallon drum measures 22.5 inches in diameter, and 33.5 inches high. You can fit ten in the container lengthwise, four widthwise, and either two or three stacked atop each other (depending on the height of the container.. if you have 110 inches of inside height, it'll be three high). So, if it's three high, you'll be able to fit a total of 120 in a 20 ft. shipping container. This is, of course, assuming that these drums are not on pallets.
The CBM (cubic meter) of a 40-foot high cube (HC) container is approximately 76.4 cubic meters. This is calculated based on its standard dimensions, which are about 12.2 meters in length, 2.44 meters in width, and 2.89 meters in height. The higher ceiling allows for additional storage space compared to a standard 40-foot container.