Idled containerships increased

The number of idled containerships has increased to 392, aggregating 1,100,000 TEUs, or 8.8 per cent of the cellular box fleet, according to Exim News Service.

Big ships continue to pile up at Asian anchorages as they end rotations after the expected resurgence orders from China after its New Year did not materialise. Indeed, the prospects dimmed with analysts predicting exports falling by a further 15-20 per cent over 3 months.

This is far worse than the 3.2 per cent of ships laid up in March 2002—the height of the last downturn—said the report, pointing out that this was the worst state of affairs in containership history, more serious than the 5 per cent laid up in 1986 when the entire US Lines fleet, with the world’s biggest boxships at the time, was frozen in bankruptcy.

The report also said that an average annual growth of 15 per cent in the container trades over three years would be needed to bring the supply and demand back into balance in 2013.

A more pessimistic view reckons on a 10 per cent annual growth to see normalcy only in 2014.

Source: Transportweekly