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PUBLISHER: Container News (container-news.com)

For the first time in history, the orderbook for container ships has exceeded those of bulk carriers and tankers.

Container freight rates were languishing for nearly a decade before Covid-19 struck in 2020, causing logistical bottlenecks as more people shopped online.

As freight rates soared to unprecedented highs, liner operators and tonnage providers embarked on a newbuilding ordering spree, and even companies such as Pacific International Lines, which was facing a financial crisis, recovered and commissioned new buildings for the first time in seven years in March.

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