The Q2 2023 Shipping Market Overview & Outlook from BIMCO has been released which features an analysis of the container shipping market regarding supply and demand.
In regards to container shipping market, BIMCO notes that a weakened supply/demand balance challenges liner operators. On the demand front, their base case scenario is that global container volumes will grow by between 0.5% and 1.5% in 2023, and by between 5.5% and 6.5% in 2024. They will thus reach approximately 185 million TEU in 2024.
Furthermore, their forecast for supply is that it is to grow by 8.3% in 2023 and 3.0% in 2024. Overall, they continue to forecast a significant weakening of the fleet supply/demand balance during 2023 with some recovery in 2024. Throughout the period, the balance will remain weaker than in 2019.
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