Calling out the container shipping lines for being the source of their own misery, Alphaliner said in its weekly newsletter that an inability to control capacity over the last 12 months has led to the current situation.
Gold Star Line will triple its container capacity to meet growing demand on an improved weekly service connecting major ports in China and Indonesia on its existing CTI service as it upgrades vessel size from 2,500 to 4,000 teu.
The global containership fleet hit 21m teu of capacity this month, however, fleet growth has slowed according to Alphaliner.
King Abdullah Port (KAP) is set enter the first quarter of 2017 with an increase to 4m teu capacity.
The container shipping fleet could pass the 20m teu mark in capacity terms next month according to Bimco.
The idle containership fleet has hit a year high, closing in on the 500,000 teu in capacity mark according to Alphaliner.