World’s Idled Container Ships Signal Bet on China Recovery
- Unused vessel capacity near highest level since 2020: Drewry
- Ship clusters are parked off China’s coast waiting for rebound
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For a sign of how much global trade has slowed, look no further than idled container ships — unused vessel capacity is near the highest level since a spike after the start of the pandemic.
But where those idled ships are clustered gives insight into the industry’s bets for a rebound: a large number are positioned near China, waiting for a renewed flow of exports as the world’s second-largest economy recovers from Covid Zero restrictions.