Drewry has estimated 100,000 TEUs of scheduled new container ship capacity did not arrive on time in 2014 and will spill into this year, increasing supply pressure on an already heavily over supplied industry.

The idle container ship fleet has fallen to its lowest level since the global financial crisis erupted in late 2008 , as port congestion on the U.S. West Coast and in Manila keeps vessels in work.

Box Ships posted its 11th consecutive quarterly profit, but the Greek container shipowner skipped a dividend payment to help it survive a slumping charter market.

Box Ships intends to offer and sell 4 million of its common shares at $5.25 per share in an underwritten public offering. The offering is expected to close on March 18.