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Idle containership fleet hits pandemic lows as carriers seek tonnage

Idle containership fleet hits pandemic lows as carriers seek tonnage

Posted on July 1, 2024 |

High demand for containership capacity has reduced the number of idle ships to levels not seen since the pandemic.

In the first half of the year, only 0.7% of the container shipping fleet was idle, similar to pandemic levels.

The average idle capacity was 210,000 TEU out of a global fleet of 29.6 million TEU, matching early 2022 figures.

Currently, 77 ships with a total of 217,038 TEU are not in use, with no ships over 18,000 TEU and only two above 12,500 TEU.

Carriers are limiting long-term capacity and adding peak season surcharges since long-term rates are below spot rates.

This situation will continue until supply exceeds demand and load factors from Asia decrease.

Larger ships over 4,000 TEU are becoming scarce, with more forward bookings for big ships expected this year and next.