The excess capacity is unlikely to be soaked up soon given that 1.7 million TEU of new capacity is due for delivery in 2017. New containership deliveries in 2016 shrunk by 46 per cent year on year to 934,500 TEU in 2016.
Poor employment prospects prompted owners to delay the deliveries of 60 ships with a total capacity of 400,000 TEU, while 18 ships for 57,000 TEU are believed cancelled, reported MarineLink.
The global containership fleet expanded by just 1.5 per cent to reach 20.27 million TEU at the end of 2016, the lowest annual growth rate ever recorded in the shipping industry's history.
Poor employment prospects prompted owners to delay the deliveries of 60 ships with a total capacity of 400,000 TEU, while 18 ships for 57,000 TEU are believed cancelled, reported MarineLink.
The global containership fleet expanded by just 1.5 per cent to reach 20.27 million TEU at the end of 2016, the lowest annual growth rate ever recorded in the shipping industry's history.