Copenhagen - Sea-Intelligence analysed the displacement of global vessel capacity, tracking over 16,000 vessel transfers across 2024 and 2025. The data indicates that the "Cascading Effect" – where tonnage shifts from primary to secondary trade lanes – has entered a distinct new phase in 2025-2H. While 2024 was characterized by an injection of capacity into Asia-Europe to manage the Red Sea crisis, current data shows that these trades have reached saturation, pushing excess tonnage into secondary trade lanes.

Figure 1 illustrates the net displacement of tonnage in 2025-2H. This is the total cascaded . . .