The global container shipping fleet is set to cross the 34 million TEU capacity milestone in September 2026, marking a record expansion of the world’s container fleet, according to BIMCO Chief Shipping Analyst Niels Rasmussen.
At the beginning of September, global fleet capacity was just 8,000 TEU short of 34 million TEU. The milestone is expected to be reached after only a few of the 46 container ships totalling 286,000 TEU scheduled for delivery this month enter service.
Global container fleet capacity has added 10 million TEU, or 42%, in just five and a half years. BIMCO said this is a record pace, compared with more than 10.5 years required to increase capacity from 14 million to 24 million TEU.
The rapid growth has been driven by record newbuilding deliveries and historically low recycling activity. Less than 300,000 TEU has been recycled over the past five and a half years, resulting in a significant increase in the number of older vessels.
Large ships have accounted for much of the expansion, with vessels above 12,000 TEU contributing two-thirds of the additional capacity since early 2021. Their share of global fleet capacity has risen from 30% to 40%, while the average container ship size has increased by 14%.
Liner operators have also strengthened their position, accounting for 85% of the additional 10 million TEU and now controlling 65% of global fleet capacity, up from 57% in early 2021.
BIMCO estimates that the fleet could potentially reach 44 million TEU within the next five years, depending on recycling levels. The current orderbook contains more than 14 million TEU scheduled for delivery by the end of 2030.
Rasmussen warned that fleet growth could remain high even if older ships are recycled, particularly if normal Suez Canal routings resume, releasing additional vessel capacity currently absorbed by diversions around the Cape of Good Hope.