Covid pandemic wiped 24.6 million TEUs off container market growth

“Due to the Covid-19 pandemic, the global container market grew only 1.5% from 171
million TEU in 2019 to 173.5 million TEU in 2023. Without the pandemic, that figure would
have been 24.6 million higher, landing at 198.1 million in 2023,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.

During the past four years, the container market has faced not only lower-than-expected
growth in the global economy, but the ratio of market growth vs economic growth, the so-
called GDP multiplier, was...

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