New Container Ship Orders to Rise by Over 50% in 2024

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According to a new report by VesselsValue - the data intelligence arm of shipping data and freight management solutions provider Veson Nautical - new container ship orders have increased by around 52% year-on-year with 254 new contracts signed in 2024, compared to 167 in the same period in 2023.

The report, titled 'The Golden Age: The Post-Covid Boom of Container Shipping Continues', states that in addition to the huge increase in orders, 2024 saw 362 new container ships entering the market. with another 169 vessels due for delivery in the final months of the year.

“Thanks to the post-covid container boom, 2024 looks set to be a record-breaking year in terms of new container vessels entering the market,” said Rebecca Galanopoulos, Senior Content Analyst at VesselsValue. “The huge rise in new orders this year means that this trend looks set to continue for the next few years.”

Galanopoulos added that scrapping has also remained low, with just 48 container ships sent for scrapping so far in 2024, down around 45% year-on-year.

The research also found that strong market conditions are reflected in charter rates that have doubled for Pos Panamax vessels.

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Source: Phaata.com (via Veson Nautical)

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