Shipowners have ordered a record number of container vessels on the back of soaring profits, prompting warnings of profligate spending by the handful of large shipowners that dominate the industry.
The total capacity of container ships on order hit 8.4mn 20-foot containers in November, according to Braemar, reaching the highest level since the shipbroker began collecting data in 2000.
The record order book, which surpasses the level reached following a similar spending spree when disruption during the Covid-19 pandemic boosted earnings, have come despite uncertainty over the outlook for global trade.
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