THE global idle containership fleet has climbed to 820,000 TEU for a total of 288 ships as at December 3, according to Alphaliner data, which marked an increase of 52,000 TEU compared to a fortnight ago.
The increase was blamed mainly on the scrapping of a number of Asia-Europe strings over the slack winter season, with 33 units of above 5,000 TEU recorded as unemployed. These figures excluded the ships immobilised for planned general repairs.
Maersk continues to top the charts among major shipping lines with the highest number of idle ships, with a total capacity of 82,000 TEU without employment.
The report highlighted that despite idle capacity increases since mid-June, freight rates had continued to weaken over the same period. Spot rates from China have dropped to their lowest levels since February.
Spot rates on the Asia-North Europe trade lane declined to below US$1,000 per TEU for the first time in 10 months, with weak vessel utilisation levels forcing ocean liners to cut rates on the back of a thwarted attempt to implement a mid-December rate increase of $500 per TEU.
"The chances of securing a sustainable rate increase on this corridor now appear to be increasingly slim, with any rate hike likely to be short lived unless more capacity is withdrawn," the report said.
US Christmas sales look better than expected, says Global Port Tracker
IMPORT cargo volume at major American container ports was up 3.6 per cent at 4.2 million TEU during August, September and October, the three busiest months when retailers bring in merchandise for the holiday season, said the Global Port Tracker report.
While cargo volume does not correlate directly with sales, the National Retail Federation (NRF) federation predicts holiday sales will increase 4.1 per cent to $586.1 billion this year.
Import cargo volume is expected to increase 3.9 per cent in December despite a strike that closed Los Angeles and Long Beach for eight days, according to the monthly report from the NRF and Hackett Associates.
The west coast problem was resolved, but a new one heated up on the east and Gulf coasts, said the two organisations in a joint statement. "After a strong kickoff on Black Friday and Cyber Monday, the holiday season is looking good and these numbers reflect that," said NRF vice president Jonathan Gold.
"We narrowly avoided what could have been a long-term disruption with the strike in Los Angeles and Long Beach and don't want to run that risk one on the east coast and Gulf coasts," he said.
Major US box ports handled 1.39 million TEU in October, the latest month for which after-the-fact numbers are available, down one per cent from September, but up 5.2 per cent from October 2011.
November was estimated at 1.22 million TEU, down 5.6 per cent from last year. The downturn was due in part to the eight-day strike that closed most terminals at the ports of Los Angeles and Long Beach beginning in the last few days of November, but also because November is a traditionally weak month after most holiday cargo has arrived.
December is forecast at 1.27 million TEU, up 3.9 per cent from last year, with January forecast at 1.31 million TEU, up two per cent from January 2012; February at 1.15 million TEU, up 5.9 per cent; March at 1.27 million TEU, up two per cent and April at 1.35 million TEU, up 3.2 per cent.
The first half of 2012 totalled 7.7 million TEU, up three per cent from the same period last year. For the full year, 2012 is expected to total 15.8 million TEU, up 2.5 per cent from 2011.
The increase was blamed mainly on the scrapping of a number of Asia-Europe strings over the slack winter season, with 33 units of above 5,000 TEU recorded as unemployed. These figures excluded the ships immobilised for planned general repairs.
Maersk continues to top the charts among major shipping lines with the highest number of idle ships, with a total capacity of 82,000 TEU without employment.
The report highlighted that despite idle capacity increases since mid-June, freight rates had continued to weaken over the same period. Spot rates from China have dropped to their lowest levels since February.
Spot rates on the Asia-North Europe trade lane declined to below US$1,000 per TEU for the first time in 10 months, with weak vessel utilisation levels forcing ocean liners to cut rates on the back of a thwarted attempt to implement a mid-December rate increase of $500 per TEU.
"The chances of securing a sustainable rate increase on this corridor now appear to be increasingly slim, with any rate hike likely to be short lived unless more capacity is withdrawn," the report said.
US Christmas sales look better than expected, says Global Port Tracker
IMPORT cargo volume at major American container ports was up 3.6 per cent at 4.2 million TEU during August, September and October, the three busiest months when retailers bring in merchandise for the holiday season, said the Global Port Tracker report.
While cargo volume does not correlate directly with sales, the National Retail Federation (NRF) federation predicts holiday sales will increase 4.1 per cent to $586.1 billion this year.
Import cargo volume is expected to increase 3.9 per cent in December despite a strike that closed Los Angeles and Long Beach for eight days, according to the monthly report from the NRF and Hackett Associates.
The west coast problem was resolved, but a new one heated up on the east and Gulf coasts, said the two organisations in a joint statement. "After a strong kickoff on Black Friday and Cyber Monday, the holiday season is looking good and these numbers reflect that," said NRF vice president Jonathan Gold.
"We narrowly avoided what could have been a long-term disruption with the strike in Los Angeles and Long Beach and don't want to run that risk one on the east coast and Gulf coasts," he said.
Major US box ports handled 1.39 million TEU in October, the latest month for which after-the-fact numbers are available, down one per cent from September, but up 5.2 per cent from October 2011.
November was estimated at 1.22 million TEU, down 5.6 per cent from last year. The downturn was due in part to the eight-day strike that closed most terminals at the ports of Los Angeles and Long Beach beginning in the last few days of November, but also because November is a traditionally weak month after most holiday cargo has arrived.
December is forecast at 1.27 million TEU, up 3.9 per cent from last year, with January forecast at 1.31 million TEU, up two per cent from January 2012; February at 1.15 million TEU, up 5.9 per cent; March at 1.27 million TEU, up two per cent and April at 1.35 million TEU, up 3.2 per cent.
The first half of 2012 totalled 7.7 million TEU, up three per cent from the same period last year. For the full year, 2012 is expected to total 15.8 million TEU, up 2.5 per cent from 2011.
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