The container market grew 0.2 percent year-on-year in 2023, ending at 173.8 million TEU. Compared to 2019, before the pandemic hit, the market was up 1.5 percent, according to the latest update from BIMCO. "Container market growth has lagged behind overall economic development significantly as the world economy has grown 10 percent since 2019,” says Niels Rasmussen, Chief Shipping Analyst, BIMCO. The container fleet capacity in 2023 increased eight percent from 2022 and 21 percent from 2019, the update added. Rasmussen adds: “Initially, the container market saw a strong rebound from the Covid crisis.

Source: The North Africa Journal February 08, 2024 00:49 UTC