Competition intensifies in the 2023 container shipping industry
According to ChinaIRN.com, it is predicted that the global shipping market will face intensified competition in the container shipping industry.
The research suggests that container shipping data is still higher than the average level before the epidemic, but considering the rise in overall costs, the situation facing the container shipping market is even more severe.
With the weakening demand for sea transportation, the increase in transportation capacity brought about by the large number of new ships launched cannot be ignored. On February 17th, data released by the Shanghai Shipping Exchange showed that the Chinese export container transportation market is still gradually recovering after the Spring Festival holiday.
Dongfang Overseas welcomes the first 24188TEU (20 foot standard unit) giant container ship in its fleet. This ship is not only the first container ship under Dongfang Overseas with a capacity exceeding 24000 TEU, but also one of the largest container ships in the world. In 2020, Dongfang Overseas ordered up to 6 24188TEU container ships from Nantong COSCO Shipping Kawasaki.
At present, with the weakening of market demand and the continuous decline in sea freight prices, the phenomenon of excess capacity of existing container ships continues to emerge. Although some shipping companies around the world have cancelled new ship orders, industry insiders point out that this situation is not common.
Recently, Tim Seyfert, the head of public relations at Herbert&Company, the world's fifth largest container shipping company, stated in an interview with Securities Times that the company will add 7 new ships to its fleet this year, and currently maintains this plan without any plans to reduce shipping capacity. However, the company stated that delayed delivery of the new ship is also possible.
The head of media relations for the Asia Pacific region of maritime giant Maersk also informed that the company has no plans to cancel new ship orders. The new ships are part of the company's fleet renewal project and will replace existing ships that are nearing their retirement period.
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