The global idle container ship capacity has hit a historic low!

2024 08/30

This year, over 2 million TEU of new container ships have joined the global fleet, but only 0.6% of the capacity is idle, presenting challenges for shipping companies in expanding the charter market. Congestion at major ports and disruptions in transportation have exacerbated capacity pressures. Maersk has chartered additional capacity to mitigate the impact, with shipping companies exhausting the available capacity in the charter market. In June and July, 500,000 TEU of new ships were put into operation, with an additional 1 million TEU planned for delivery this year and another 2 million TEU expected to be delivered in 2025. Shipping companies' profits in the first half of the year exceeded expectations, leading to bullish sentiment. Cash-rich companies have turned to Asian shipyards to order new ships, with confirmed orders exceeding 2 million TEU this year, mostly concentrated in Chinese shipyards, with deliveries not expected until 2027.