Deterioration of supply and demand in container shipping market.

The Baltic International Shipping Association (BIMCO) predicts that the balance between supply and demand in the container market will deteriorate significantly in 2023 and improve in 2024. During this period, the relationship between supply and demand will be lower than that in 2019. 

Demand side

It is estimated that the global container shipping volume will increase by 0.5% to 1.5% in 2023 and 5.5% to 6.5% in 2024. According to this, by 2024, the container shipping volume will reach about 185 million TEU.

Supply side

It is estimated that the growth rate of fleet capacity will be 7.3% and 8.0% in 2023 and 2024 respectively. It is estimated that 4.9 million TEU new capacity will be delivered in 2023 and 2024, 900,000 TEU will be dismantled, and the global fleet size will reach 29.8 million TEU by the end of 2024.

At present, port congestion has returned to normal level, and the pressure on global supply chain has dissipated.