Xeneta: Red Sea Container Capacity Doubles in Six Weeks
Xeneta said that weekly offered container shipping capacity through Bab el-Mandeb doubled within six weeks to 448,273 units, but it remains at 48% of its 2023 level.
Shipping analytics firm Xeneta stated that weekly offered container shipping capacity through Bab el-Mandeb reached 448,273 twenty-foot equivalent units (TEUs) on October 5, which is double its level six weeks prior.
It explained that this level represents only 48% of the 930,679 units offered in August 2023, meaning that the return to the Red Sea route remains partial so far.
Senior Analyst at Xeneta Emily Stausbøll said the return represents a "major shift in shipping lines' strategy," which will inject additional capacity into the global fleet.
The company warned that this return will affect rates and services until 2027, with capacity redistributed across routes and competition rising among carriers.
What do these terms mean?
TEU Unit: A unit of measurement for ship and container capacity, equivalent to one 20-foot container, used to measure the volume of transported trade.
Bab el-Mandeb: A narrow waterway separating Yemen from Djibouti, through which a significant portion of trade between Asia and Europe passes.
Offered Capacity: The total number of containers that shipping lines offer to transport on a specific route during a specified period.
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