As of the end of July, less than 1% of the global container fleet's vessels were idle. Alphaliner's report on "no commercial activity" vessels over the past two weeks indicated that the number of idle container ships worldwide remained at a historic low.

Alphaliner highlighted that July's minimal capacity was the lowest since the first half of 2022.

Freight rates have not been this high since the outbreak of the COVID-19 pandemic, partly due to market challenges stemming from the Red Sea crisis. Since mid-November 2023, merchant ships have been under attack.

This has prompted shipping companies to send vessels on longer routes south of the Cape of Good Hope, further increasing demand.