Record number of container ship deliveries in 2024 causing market concerns: Bimco

by time news

2024-05-12 23:03:34

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Published on: 05/13/2024
par: Writing
Lecture: 1 min.

Between January and April, more than 1 MEVP has already been delivered this year and the dismantling of container ships is once again limited. Between 2019 and 2023, the fleet will have increased by 21% while transport volumes have only increased by 4%.

In 2023, 2.3 MEVP were delivered, surpassing the historical precedent by 37%. Since the beginning of the year, in just four months, more than 1 MEVP has been received in four months, an increase of almost 80% compared to the previous record, according to the shipowners association Bimco. At the same time, ship recycling has achieved only 19 ships so far, as well as a small tonnage.

There are 2 MEVPs to be delivered this year

As 1.8 MEVP are contracted in 2023 and 2024, the order book at this stage includes 6.1 MEVP, or 21% of the operational fleet. No fewer than 2 MEVPs are to be delivered in 2024 and nearly as many in 2025.

« The record level of vessel deliveries was expected to create a major oversupply in the market, and while this will affect the market in 2023, this year’s deliveries instead appear to be helping global trade keep moving container. », shows the organization.

It refers to the rerouting of ships through the Cape of Good Hope to avoid the Red Sea where the Houthis carry out attacks on merchant ships.

Between 2019 and 2023, the fleet will have increased by 21% while transport volumes have only increased by 4%. Between 2023 and 2025, the fleet is expected to increase by a further 15%, according to Bimco.

Writing

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