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Baltic Exchange Market Report (10 May 2024)...
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Date: 07/05/2024

Fifty new ships with 333,000 TEU delivered in April

The world saw the delivery of 50 new ships with a whopping 333,000 TEU of capacity in April 2024. By way of comparison, April saw more capacity delivered than the entire extant fleet of one of the world’s top lines. Alphaliner noted in its recent weekly report that a few years ago many had predicted that liner shipping would run into a massive overcapacity situation in 2024, but so far the market has absorbed all the new capacity fairly well. Vessel diversions via the Cape of Good Hope and additional slow-steaming due to stricter environmental regulations have “artificially” created fresh tonnage demand, it explained. The containership fleet capacity currently stands at 29.37 m TEU. It will reach 30 m TEU by the end of June in this record year for newbuild deliveries, as per a report.
 
Source: Exim News Service: Singapore, May 6



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