WORLDWIDE the total number of idle containerships bigger than 500 TEU stood at 235 units with an aggregate capacity of 779,230 TEU at the end of 2013, representing 4.5 per cent of the total cellular fleet.
WORLDWIDE the total number of idle containerships bigger than 500 TEU stood at 235 units with an aggregate capacity of 779,230 TEU at the end of 2013, representing 4.5 per cent of the total cellular fleet.
The increase in the global idle box ship fleet was attributed to the impact of year-end void sailings and winter capacity adjustments, resulting in a number of larger ships being temporarily out of work, reports Alphaliner.
At the end of December, 13 vessels of above 7,500 TEU were without employment, along with a further 27 ships ranging in size from 5,100-7,500 TEU, bringing the number of idle over-panamax units to 40, the highest level in over a year.
Hardest hit continues to be panamax vessels in the 3,000-5,100 TEU range, with 75 units idle, representing 7.3 per cent of the total number of ships and 7.5 per cent of the total capacity in this size category.
The record level of scrapping in 2013 had only a negligible impact on the overall surplus position. A total of 74 ships of between 3,000 and 5,000 TEU were scrapped, but did little to redress the over-supply of panamax tonnage.
The on-going surplus is expected to send more panamax ships to the scrapyards in 2014, including some relatively young ships of below 20 years.
Although the idle fleet could shrink slightly in January due to stronger demand in the run up to the Chinese New Year holidays, the impact will be short-lived.
Idle capacity is forecast to remain high until March, before the resumption of services withdrawn for the slack winter season is fully restored.
The container shipping market will also have to make room for a record 1.6 million TEU of new capacity due to arrive in 2014.
Overcapacity to stay despite record scrapings as deliveries surge
THE capacity of new containership deliveries totalled 1.39 million TEU in 2013, an increase of 9.6 compared to 2012, pushing the global box fleet up to 17.28 million TEU as of January 1, 2014, with total capacity rising 5.8 per cent last year.
THE capacity of new containership deliveries totalled 1.39 million TEU in 2013, an increase of 9.6 compared to 2012, pushing the global box fleet up to 17.28 million TEU as of January 1, 2014, with total capacity rising 5.8 per cent last year.
A record 192 unit were scrapped in 2013 for 461,300 TEU, compared to 351,570 TEU the previous year, however, newbuilding deliveries continued to outpace deletions by a factor of three to one.
The containership orderbook reached 3.86 million TEU as at January 1 2014, up 12.4 per cent year on year on the back of a surge in new vessel orders in 2013. During the year 234 units for 1.83 million TEU were contracted.
The total value of the new ships ordered last year hit US$16.8 billion, more than three times higher than the total value of new orders made in 2012 when only 88 units for 490,000 TEU were ordered at a total price of $5.1 billion, according to Alphaliner figures.
This order surge will lead to record levels of ship deliveries in 2014 and 2015, which will prolong the capacity over-supply situation.
The idle fleet in 2013 averaged 601,000 TEU, or 3.6 per cent of the total fleet, and capacity idling is forecast to last for at least two more years.
Container freight markets remained under pressure for most of 2013, with the average CCFI index at 1,082 points or 7.6 per cent lower than the 2012 average.
A record 192 unit were scrapped in 2013 for 461,300 TEU, compared to 351,570 TEU the previous year, however, newbuilding deliveries continued to outpace deletions by a factor of three to one.
The containership orderbook reached 3.86 million TEU as at January 1 2014, up 12.4 per cent year on year on the back of a surge in new vessel orders in 2013. During the year 234 units for 1.83 million TEU were contracted.
The total value of the new ships ordered last year hit US$16.8 billion, more than three times higher than the total value of new orders made in 2012 when only 88 units for 490,000 TEU were ordered at a total price of $5.1 billion, according to Alphaliner figures.
This order surge will lead to record levels of ship deliveries in 2014 and 2015, which will prolong the capacity over-supply situation.
The idle fleet in 2013 averaged 601,000 TEU, or 3.6 per cent of the total fleet, and capacity idling is forecast to last for at least two more years.
Container freight markets remained under pressure for most of 2013, with the average CCFI index at 1,082 points or 7.6 per cent lower than the 2012 average.
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