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At the start of 2021, things may not have been looking too optimistic. New variants of COVID-19 were emerging and many nations and states re-entered into draconian lockdowns that potentially halted a strong consumer rebound. To further complicate matters in March, the Suez Canal was blocked for almost a week by a large container ship owned by
Evergreen Marine, holding up a cohort of other commercial vessels. Many would assume another disaster loomed for the shipping industry.
On the contrary, the demand for goods is strong and many expect this to continue in the long term. To back this up, Evergreen, recently ordered 20 Very Large Container Ships (VLCSs). A total of 72 new ships were ordered in March and this amounts to 866,000 of new TEU (Twenty-foot Equivalent Unit) capacity in the future.