Order book rebound
According to Bimco, shipyards have delivered a record-breaking 2.5 million teu capacity in container ships just ten months into 2024, with 410 new vessels contributing to an 8.7% fleet increase, now totalling 30.4 million teu in 6,699 ships.
Since 2020, the fleet has expanded by 32%, with 7.8 million teu delivered in the past five years. Despite this rapid growth, new ship orders remain high, with 3.3 million teu added to the order book this year, primarily by operating owners, who control 78% of it.
With 0.5 million teu still set for delivery in 2024, annual deliveries could reach 3.0 million teu. Future growth hinges on recycling, as 3.4 million teu will surpass 20 years of age next year, potentially curtailing fleet expansion if recycled promptly. (pb)