COVID-19 caused drop of 24.6M TEU in container market growth, BIMCO says

BIMCO now predicts that normal shipping routes through the Red Sea and Suez Canal will not resume until 2025.

In 2023, 2.3M TEU of new container ship capacity surpassed the previous high by 37%, with an additional 1M TEU delivered in the first 4 months of 2024.

IBIA and BIMCO partner to address bunkering challenges, foster clean energy solutions, and advance sustainable shipping practices.

The impact of elections in India, Mexico, the European Parliament, and the United States, could introduce further uncertainty to supply chain risks in 2025.

In February of this year alone, Russia’s container market rose by 23.5 per cent year-on-year to 533,000 TEU. The preceding month also saw growth.

“The management of the Red Sea crisis has alleviated concerns of sudden container price rises, providing a more predictable environment”