The volume of container shipping capacity stuck waiting outside congested ports has surpassed the previous record set during the pandemic, according to data from maritime consultancy Linerlytica. The absolute volume of container capacity stranded in port queues has reached 4.31 million TEU, exceeding the 2022 pandemic peak of 4 million TEU, as multiple simultaneous disruptions hold a large number of ships at anchor around the world. The buildup has been driven by an active Western Pacific typhoon season, including the recent Typhoon Saudel, alongside continued Cape of Good Hope diversions away from the Red Sea and carrier capacity discipline through blank sailings.
Analysts caution that the comparison to 2022 requires context: the global containership fleet is roughly 36 percent larger today than it was during the pandemic peak, so as a share of total fleet capacity, the current congestion rate of 12.6 percent of 34.4 million TEU remains below the 2022 peak of 15.7 percent of a 25.3 million TEU fleet. What makes the current squeeze particularly acute for freight rates, however, is the near-total absence of idle vessels, with only about 55 ships out of more than 5,400 active containerships sitting undeployed, leaving carriers with no spare capacity buffer to absorb further shocks. Shippers are being advised to secure space well ahead of China’s Golden Week holiday as carriers pull additional capacity through blank sailings in the coming weeks.
Source: Tech Times
