Megaships worsening glut in container market
Shipping lines have taken ownership of 20 megacarriers with a capacity of more than 18,000 TEU each and another 52 are on order, according to OECD
Add BT as a preferred source
London
CONTAINER shipping lines are poised to take delivery of a new generation of "megaships" over the next two years, just as the growth of world trade is slowing down, contributing to massive overcapacity in the market.
Megaships, which can be up to 400 metres long, seem to be here to stay, not least because so many more are already on order, the product of high fuel costs and low interest rates.
TRENDING NOW
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
Two-thirds of Sentosa Cove resales in the red, with average loss topping S$1 million since 2023
