Record new home deliveries in June Ship’s crew

The month of June 2023 has set an all-time high for newbuild container ship deliveries in a single month, with 277,873 TEU setting sail.

Ships approved by the shipyards include the ONE Innovation with 24,136 TEU from ONE, the Berlin Express with 23,660 TEU from Hapag-Lloyd, the MSC Mariella with 24,346 TEU and the MSC Taylor with 15,264 TEU from MSC, the Maersk Charleston with 15,616 TEU of Seaspan Corporation, the 15,342 TEU Ever Max of Evergreen Marine Corporation and Capital Ship Management’s 13,312 TEU Buenaventura Express.

In the first six months of 2023, 148 ships with 975,344 TEU were put into service, in the second half of the year over 1.2 million TEU are to be delivered. Linerlytica said in its latest report that total deliveries of 2.2 million TEU in 2023 will set a new annual delivery record.

In the first half of the year, only 47 vessels with a capacity of 84,685 TEU were unloaded as new capacity continues to outpace demolitions.

Linerlytica noted: “The current pace of capacity reduction measures is well below the record high of 695,850 TEUs removed in 2016. The subdued car scrapping numbers are dampening hopes that unchecked capacity growth can be contained.”

Record shipments will add downward pressure on freight rates even as transpacific rates rose on July 1st.

Tariffs between Shanghai and the US West Coast increased by 20% to US$1,408/TEU since June 24, while tariffs between Shanghai and the US East Coast increased by 15% to US$2,368/FEU. However, China-Europe tariffs remained under pressure, with rates falling 4% to US$763/TEU.

Linerlytica is certain that attempts to increase fares will be in vain as capacity glut worsens. The consultancy said: “Carriers continue to push for bi-monthly fare increases, but the retention rate remains bleak. July’s overall fare increase will continue for a week before fare reductions begin to spread again and limited capacity cuts and low capacity utilization dampen market sentiment.”

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