Era of big box ships begins

Date Added: 27 March 2023

Era of big box ships begins

As a provider of international container shipping services, Davies Turner notes an article on the Maritime Executive website that provides a good summary of the current container shipping market.

The report explains how the era of the big box ship has begun.

Since the middle of March 2023, both MSC and OCCL have begun phasing their new ultra large container vessels into the services with competitors including Hapag-Lloyd and Ocean Network Express (ONE) due to also take delivery of their first giant box ships each hovering around the 24,000 teu capacity level.

This comes however as the industry continues to idle vessels due to low demand.

As of March 13, Alphaliner’s inactive fleet report shows that a total of 300 container ships of over 500 teu were out of active service. That represents nearly 1.6 million teu or about six percent of the industry’s total capacity. The figure is down slightly in the past two weeks as the industry moves past the disruptions from the Lunar New Year holiday, but it is still more than double the 2.6 percent idle a year ago.

The full report can be seen here:

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