For some time, affected by Yemen's Houthi armed attacks in the Red Sea, many cargo ships that originally traveled through the Red Sea had to detour the Horn of Good Hope in Africa, and longer routes and sailing times have pushed up international container shipping rates. However, the industry said that with the rising container capacity, international shipping rates are expected to decline.

    Bloomberg 17 quoted international shipping giant France CMA CGM Group chief financial officer Ramon Fernandez in the recent company performance briefing analysis said that international container shipping rates will fall in the second half of this year. He said the global shipping fleet could expand by 10 per cent this year, which would lead to an oversupply of maritime freight capacity that could not be consumed even by ships circling the Cape of Good Hope. France's CMA CGM is the world's third largest container shipping group.

    Ramon Fernandez's forecast comes shortly after Maersk, the world's second-largest container shipping group, said international container shipping capacity was likely to be oversupplied by the second half of the year, meaning freight rates could fall.

    In 2021-2022, the COVID-19 pandemic will lead to a surge in international freight demand, driving up sea freight rates. At that time, the international shipping giants, while reaping record profits, also began to expand orders for freighters and continue to build new ships to meet future demand. Now, the new freighters booked by the shipping company will be delivered one after another.

    Marine Trade Maritime Network, a professional website focusing on international shipping and maritime issues, said on the 16th that as of May this year, freight capacity between Europe and Asia was still in short supply, with a capacity shortage equivalent to a lack of 36 freighters. However, new freighters delivered so far this year have added 1.14 million TEUs of capacity, and a further 2 million TEUs will be added during the year. If Red Sea shipping resumes, more container shipping capacity will be released. Assuming that Red Sea shipping returns to normal this month, international shippers will have to reallocate about 764,000 TEUs of capacity.

    However, it is still difficult to tell when Red Sea traffic will return to normal. The French CMA CGM group disclosed that it is currently approving whether its freighters can pass through the Red Sea waters on a case-by-case basis, and must seek escort from the French navy and EU maritime forces during the passage.

    In response to the possible oversupply of international freight capacity, some analysts said that there is still increased demand for capacity between India - Europe and Asia - the East coast of the United States, which can share some of the capacity supply. In addition, the industry expects this year's peak international freight season (August to October), the market demand for capacity is extremely strong, so at least for a while, new ship deliveries and capacity increases are still welcome.