A frantic rush to contract container ship newbuildings appears to be running out of steam as yards report a drop in fresh enquiries.
The cooling comes as the container freight market comes off its record-breaking peak, and a huge backlog of boxship orders makes the sector a risky investment at today’s prices.
“Generally, everyone thinks too many container ships have been ordered in the last 18 months by large liner carriers, tonnage providers and newcomers to the boxship market,” one shipyard manager .
