This week, Hyundai Merchant Marine (HMM) made headlines by ordering eight 13,400 TEU container ships. A recent report from the International Federation of Freight Forwarders Associations (FIATA) highlights the aging container fleet, with the average age of the top 10 shipping lines at about 13 years as of August 2025. While Evergreen and HMM boast younger fleets averaging nine years, companies like MSC and Maersk rely more on older vessels, with average ages of 16 and 14 years, respectively.
The report suggests that many ships will soon reach the end of their competitive lifespan. Current scrappage rates are low, with only 0.38% of the fleet scrapped in 2023 and a mere 0.02% in 2025 so far. This indicates that older, less efficient vessels are still in operation, especially due to increased demand from diversion routes. Once the situation in the Red Sea stabilizes, many of these ships may become commercially unviable.
In the feeder market, fleet renewal prospects are mixed. Hapag-Lloyd has ordered up to 24 feeders, but a shortage of geared container ships is anticipated. Although the order book has increased significantly, few new geared vessels are being built, which could pose challenges as the existing geared fleet ages. The number of ports served solely by geared ships is declining, but this trend may slow, particularly in regions like Africa, while some areas, like the Pacific Islands, remain stable.
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