Market demand lags far behind the strong growth of the container fleet
GROWTH OF 20%
Due to the massive delivery of new ships, the supply of the container fleet will grow by 20% until the end of next year, without any significant growth in demand.
This is stated by the research department of Danish Ship Finance in its latest semi-annual report on the outlook for the global shipping market. That analysis comes at a time when container rates have already fallen by 80% since peaking in September 2021 and shipping companies are starting to look for ways to cut costs.
According to the research report, an armada of 726 new ships with a combined capacity of 5.6 million teu will be put into service until the end of next year. That is almost 21% of the current fleet of 26.9 million teu. The delivery rate of new ships is therefore far above that in the pre-coronavirus era, when an average of 38 new ships came into service per quarter.
GROWTH OF 20%
Due to the massive delivery of new ships, the supply of the container fleet will grow by 20% until the end of next year, without any significant growth in demand.
This is stated by the research department of Danish Ship Finance in its latest semi-annual report on the outlook for the global shipping market. That analysis comes at a time when container rates have already fallen by 80% since peaking in September 2021 and shipping companies are starting to look for ways to cut costs.
According to the research report, an armada of 726 new ships with a combined capacity of 5.6 million teu will be put into service until the end of next year. That is almost 21% of the current fleet of 26.9 million teu. The delivery rate of new ships is therefore far above that in the pre-coronavirus era, when an average of 38 new ships came into service per quarter.