Global demand for container shipping continues to outpace supply, reducing the number of idle vessels to pandemic-era levels. Alphaliner data reveals that in the first half of the year, commercially idle tonnage averaged 0.7% of the container shipping fleet, roughly 210,000 TEU out of the 29.6 million TEU global fleet, matching early 2022 figures.

Currently, 77 ships totaling 217,038 TEU are idle, with none over 18,000 TEU and only two above 12,500 TEU, as carriers scramble for available tonnage. Flexport warned of continued spot rate surges until capacity exceeds demand. Long-term rates are below current spot rates, pushing carriers to limit long-term capacity and use peak season surcharges to bridge the gap. Almost all vessels are running at 100%, driving the surge.

Alphaliner observed a sharp rise in forward fixtures for larger ships, reflecting carrier expectations of continued demand despite geopolitical challenges and better-than-expected global economic performance.