- The US East Coast port shutdown could increase demand for chartered container ship tonnage, especially for smaller vessels.
- Leading shipping companies are securing additional tonnage amid congestion concerns, despite the Golden Week in China slowing chartering temporarily.
- New ship deliveries continue, adding pressure on the market, with 1.7 million TEU expected by early next year.
An extended US East Coast port shutdown is likely to push up demand for chartered container ships as carriers try to offset delays and congestion. Non-vessel operating companies are keeping a close eye on developments, anticipating the need to add tonnage, reports Seatrade Maritime.
Potential Chaos and Vessel Queues
Alphaliner reported that the strike could result in widespread disruption, with ships queuing outside ports, deviating to other terminals, or cutting rotations short. This expectation of chaos is already causing interest in securing additional tonnage.
With larger vessels already in use, smaller vessels around 2,000 TEU are expected to be in high demand and could be chartered at a premium to compensate for delays and congestion at key ports.
Healthy Charter Market Despite Slowdown
Despite the impact of China’s Golden Week, the charter market remains strong, with high demand across vessel sizes. Major players like Cosco Shipping, Maersk, Hapag-Lloyd, and ONE have been actively securing or extending tonnage.
By 23 September, the idle fleet accounted for just 0.6% of the global fleet, with 56 ships totaling 196,717 TEU. This represented a small increase compared to the previous two weeks.
Ships in Shipyards for Maintenance
A total of 131 ships, amounting to 475,665 TEU, were in shipyards for maintenance, repairs, or refitting, a decrease from the previous report of 139 ships.
New tonnage continues to be delivered at a fast pace, with 52 ships totaling 191,591 TEU delivered last month alone. A further 1.7 million TEU of new ships are expected by February 2025.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Seatrade Maritime
