Ocean capacity is rising, demand is cooling, and 'the market is starting to turn'
Container spot freight rates on the main east-west ocean trades showed their first decline since ...
Photo 172491223 © Grzegorz Jeż | Dreamstime.com
The most direct way that carriers can reduce the mounting overcapacity that threatens to swamp the world’s oceans is to simply scrap older vessels.
If only it were that simple
The latest Alphaliner data on ship demolitions shows that, aware of the growing imbalance between demand and supply, carriers and non-operating owners (NOOs) sent considerably more tonnage to ship-breaking yards in 2023 than in the previous two years.
It is understandable that there was so little scrapping in 2021 and 2022, as owners ...
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