Global container shipping delays have led to a record 4.31 million TEU of idle capacity, surpassing the previous peak of 4 million TEU in 2022.
The congestion and delays at ports in global container shipping have pushed the unused capacity to a new record level due to bottlenecks. According to data from the analysis firm Linerlytica, the idle container capacity due to delays at ports has risen to 4.31 million TEU this week.
This figure surpasses the previous peak of 4 million TEU seen in 2022, when container volumes rapidly increased following COVID-19. However, due to the growth of the sector's fleet over the past four years, the share of idle capacity within the total fleet has decreased from 15.7% to 12.6%.
Delays in Asia are tightening capacity.
Increasing wait times at ports in China and Asia, combined with ongoing delays in Europe, are exacerbating capacity congestion on container ships. Linerlytica notes that this situation is also contributing to rising freight rates.
It is reported that over 1.5 million TEU of capacity is currently anchored off the coast of Shanghai, while significant amounts of cargo are also piled up at ports in Singapore, Busan, Colombo, and various ports in China. Mumbai stands out as the port with the highest wait rate per docking point.
Recent typhoons in Asia have also disrupted operations, particularly at China's major ports, increasing delays and the amount of stranded cargo.
Only two-thirds of ships are moving on time.
According to Sea-Intelligence's monthly report, only about two-thirds of container ships are able to operate according to schedule. The average delay time for ships is reported to be over five days.
On the other hand, there is also a limited excess capacity in the sector independent of port congestion. According to Linerlytica, only 55 of the more than 5,400 active container ships are idle. These ships represent 0.5% of the total fleet, with a capacity of approximately 164,000 TEU.
Freight rates have risen by 156%.
Capacity congestion creates a favorable scenario for shipowners in terms of supporting revenues. Linerlytica states that freight rates have increased by 156% since the onset of the Iran war, and this has also reflected in the container ship charter market.
The use of longer routes by ships bypassing the Red Sea and Suez Canal to navigate around southern Africa is also among the factors putting pressure on existing capacity. Maersk, Hapag-Lloyd, and MSC have announced plans to shift some routes back to the Suez Canal and Red Sea corridor, noting that this change could shorten transit times by up to 14 days and reduce fuel costs.
The Panama Canal is also being closely monitored.
Another agenda item for the sector is the Panama Canal. It is assessed that if the daily transit numbers and the maximum allowable draft for ships are restricted again, waiting times and cargo accumulation could increase.
The Canal Authority has announced that it will prioritize large vessels carrying the highest container volumes, while there are concerns that drought conditions could increase delays again as autumn approaches.
As port operators in China attempt to accelerate operations following the typhoons, it is not expected that congestion will completely disappear in the short term. Strong freight rates and positive market expectations are also paving the way for some major carriers, including Maersk, to revise their financial outlooks for 2026 upwards.
Highlighted figures:
4.31 million TEU: Capacity delayed due to congestion.
1.5+ million TEU: Capacity waiting off the coast of Shanghai.
12.6%: Share of idle capacity within the total fleet.
156%: Increase in freight rates since the start of the Iran war.
5+ days: Average ship delay time.
Source: SeaNews Türkiye
