MSC delays delivery of mega-boxships

Mediterranean Shipping Co (MSC) is said to have pushed back deliveries for some of its mega boxships on order. MSC chairman Gianluigi Aponte told Italian media that deliveries of the largest containerships have been delayed by few months and up to a year.

"For ships that were imminent, those for delivery in 2009 and 2010, we have been able to postpone for some months but not by much. Those for handover in 2011 have been carried forward into 2012," said Aponte. Figures from analyst AXS-Alphaliner suggest that MSC has 12 ultra-large containerships for delivery in 2010 from Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries of South Korea.

Aponte believes that efforts implemented by liner companies to improve rates are working - as a result of scrapping and idling ships. He estimates that around 250,000 teu in total has been scrapped from the market and that 550 boxships of around 1.1 million teu are laid up. This equates to a reduction in capacity of 1.3 million teu, which should "compensate for the arrival of the new large vessels", Aponte adds.
"We can say the existing fleet now corresponds to the capacity demanded in the world market," he said.

Source: The Motor Ship