05 Jun Container Newbuilds Forecast To Hit A 14-Year Low
Currently, the majority of container owners are focused on adjusting their equipment to better match current trading and vessel supply parameters, and to remove ageing or damaged boxes that have accumulated as a consequence of supply chain congestion over the period of the pandemic. This is expected to see approximately 2.8 million TEU retire in 2023.
Consequently, the global fleet of containers is forecast to contract 2% this year to 49.9 million TEU, representing the first fall in 14 years. And whilst global container shipping trade is expected to remain weak, a recovery in cargo demand is anticipated in subsequent years as the global economy gathers momentum.