CSCL leads lay-ups as idle fleet hits 10pc of world total

THE number of idle container ships has increased in the last two weeks to 10 per cent of the total world fleet as more vessels were removed from active service and with most coming from withdrawals by China Shipping Container Line.

According to the AXS-Alphaliner Weekly Newsletter, a total of 520 ships are currently idle, representing 1.28 million TEU. This comes after around 55,000 TEU of surplus capacity was added to the carrier-operated idle capacity during the past two weeks, while only 5,800 TEU were added to the idle fleet of non-operating owners.

"This modest increase is partly caused by the replacement of old carrier-controlled ships, which have been sold for scrap and replaced by chartered tonnage," said the newsletter from the Paris-based consultancy.

The bulk of the recent increase comes from CSCL, said the newsletter, with a series of 5,600-TEU ships being taken out of service following revisions to the carrier's Pacific and Far East-Middle East services. China Shipper has also announced it will exit the North Atlantic trade in September, a move that is expected to boost its idle fleet further.

The scrapping of older tonnage is also said to be continuing "unabated" with the total capacity scrapped so far this year reaching 235,000 TEU, a record level for vessel deletions.

(Source: www.schdnet.com)