Higher deliveries of container ships, especially ultra-large container ships (ULCSs), will make the sector more challenging in the short term.
IHS Maritime's Sea-web.com data show 1,906,008 teu of container ships that would be delivered this year, including 70 ULCSs.
Last year 1,517,125 teu of container ships were delivered, including 60 ULCSs.
Italian broker Banchero Costa noted that trade growth has been languishing at low single-digit percentages.
The company said, "The market remains challenging as on the supply side there is the lurking issue of overcapacity and damaging price wars."
In response, carriers have been consolidating via mergers or through alliances.
Hapag-Lloyd merged with CSAV to create the fourth-largest carrier. On the other hand Maersk, MSC, and CMA CGM