Global container ship orders surge by 52%, with 254 new vessels for 2024

Container shipping is booming in 2024, with record numbers of new vessels expected, as orders have surged compared to 2023.

New container ship orders have risen by 52% year-on-year, reaching 254 in 2024, up from 167 during the same period in 2023.

So far, 362 new container ships have joined the fleet in 2024, with another 169 anticipated by year’s end, significantly expanding capacity.

Only 48 container ships have been scrapped in 2024, a 45% decrease from last year, as companies retain more vessels.

Charter rates for post-Panamax vessels have doubled to around $72,000 per day since July, compared to $36,000 per day a year ago.

High demand is driving strong charter rates and rapid growth in the container shipping industry in 2024.

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