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Another 83 ships larger than 15,000 TEU expected to be delivered in 2024, doubling capacity in just four years

~920,000 TEUs have diverted south of Africa & another ~1,002,000 are delayed in Suez area: Anders Schulze, Flexport

Container volumes have fallen 2% compared to 2022 and are up only 1% compared to 2019

Currently, 21% of ships in the container fleet are older than 20 years, and thereby prime candidates for recycling

Thailand, Vietnam & Pakistan have increased exports but this has not been enough to substitute India’s reduction: BIMCO

Deliveries of new container ships during the first seven months of the year reached a new record high of 1.2 million TEU

Revised strategy includes enhanced common ambition to reach net-zero GHG emissions close to 2050

Historically, about 50% capacity has been recycled by the time the ships have been 25 years old and 90% by 30-35 years

Scheduled deliveries for 2024 and the remainder of 2023 are currently at 5.03 million TEUs

Ukraine’s sea ports were under a blockade until the end of July 2022 when the Black Sea Grain deal was signed

Indian government struggled last year to combat high domestic wheat prices and securing local food availability

Cargo volumes may recover once businesses have adjusted inventory levels, unlikely to improve supply/demand balance