Soaring containership deliveries to push fleet growth says BIMCO

Date Added: 14 August 2023

Soaring containership deliveries to push fleet growth says BIMCO

With our comprehensive portfolio of international container shipping services, Davies Turner notes that deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million teu in 2023, beating the previous record by 0.2 million teu.

As recycling of ships has remained low, the fleet capacity has grown 4.3% since January, BIMCO added.

The contracting of new ships has slowed since its record in 2021 but has year-to-date remained twice as high as during the 2010s.

The order book is in fact so large that ship deliveries are expected to exceed the previous full-year record of 1.7 million teu three years in a row. Based on the estimated delivery dates, a total of 2.4, 2.9, and 1.9 million teu are expected to be delivered in 2023, 2024 and 2025 respectively.

Recycling of ships is also expected to increase in the coming years as more energy-efficient ships will replace less efficient ones as owners aim to reduce greenhouse gas emissions. Despite recycling of older ships, the fleet is still expected to grow by approximately 4.5 million teu between early 2023 and early 2025, increasing the fleet capacity by nearly 18%.

The increase in fleet capacity comes at a time when current trade growth in many key regions is declining and global economy growth prospects for the coming years are weakening.

For more information about Davies Turner’s ocean freight forwarding and logistics services, please contact or visit the relevant pages of this website.

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