The container ship charter market has shrunk at an unprecedented pace in the past 20 months, according to Alphaliner.

Tonnage providers have sold 501 vessels with a combined total of 1.7m teu between August 2020 and March this year.

That amounts to a net reduction of the global charter fleet of around 1.6m teu, with just 32 vessels sold by end-users to tonnage providers.