Suez Canal return could dent global container ship demand

A potential return to normal Red Sea and Suez Canal routings looms large over the container shipping market outlook, with the shift expected to have a material impact on ship demand and overall market balance in the coming years.

In its Container Shipping Market Overview and Outlook for December, Baltic and International Maritime Council (BIMCO) points to an increased likelihood that carriers may gradually resume Suez Canal transits in the not-too-distant future, a development that could lower ship demand by around 10 per cent.