Since the beginning of the year, the capacity of the container ship fleet has increased by 1.6m TEU. Compared to one year ago, the capacity has risen 11% to 29.5m TEU, the fastest fleet growth in 15 years, according to BIMCO. During the first half of 2024, the delivery of new ships reached a new high. A total of 264 ships with a combined capacity of 1.6m TEU have been delivered from shipyards, two-thirds more than during the first half of last year when the previous record was set. Though a new benchmark has not been set, high demand for ships has contributed to keeping recycling of ships at a low level. Strong cargo volume growth and the rerouting of ships via the Cape of Good Hope have contributed to the recycling of only 36 ships with a combined capacity of 51k TEU.
