ShippingWatch

Container lines' buying rush rains on yards and brokers

Container carriers ordered newbuilds at an unprecedented rate in the first six months of the years, figures show. The purchase and sale of second-hand vessels also set a new record in an overheated market where carriers race to cash in on the sky-high freight rates.

Photo: Fabian Bimmer/Reuters/Ritzau Scanpix

The extraordinarily strong container market in the first six months of the year saw container carriers rush to the shipyards, multiplying the orderbook for new vessels.

High demand and a shortage of ships and containers have pushed freight rates to sky-high levels, while supply chains struggle with large delays and bottlenecks globally. The need for capacity and new vessels is thus apparent and gives carriers the confidence to sign new orders.

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