UK shipbroker Affinity has highlighted a "rapid decline" in idle containership capacity as rates rise.
But it remains cautious over the duration of the recovery.
The idle list has shrunk by 0.1m teu to 1m teu from the middle of the month.
Analyst Fotios Katsoulas said the impact on time charter rates has been "so obvious and dynamic".
"This level hasn’t been met since September 2016, when Hanjin Shipping’s collapse added almost half a million teu to the market’s surplus," he added.
Ex-Hanjin
