While the containership orderbook has surged to over 33% of the total fleet, next to none of these vessels are geared ships, according to data analysis by MSI in its latest HORIZON Monthly Containerships report.
This could become a problem in the years to come as the geared fleet ages – 37% of geared containerships are over 20 Yrs old (Chart A left). While it is true that the number of ports only served by geared containerships is on the decline, this decline may be slowing (Chart B right).
Furthermore, the total number of calls at geared-only ports is more stable. Total calls at geared-only ports rose by 9% yoy in 2024 and the 2025 figure is expected to be similar (2025 YTD to end-October is shown).
The fall in geared-only ports is in large part down to a fall in the number of geared-only ports in Africa as terminals modernise (Chart C).
However, the Pacific Islands and South-East Asia have seen no change in the number of geared-only ports since 2022, while the number of such ports in Europe rose by one over this period. Many of these ports, which include Arctic and Polynesian ports, are likely to be too remote to justify major upgrades anytime soon.
This means that the rate of decline in geared-only ports may slow and could provide space for renewed ordering of geared containerships to replace the current fleet and stem the loss of market share to multipurpose vessels.
Source: MSI
