Executive Briefings

2015 Saw Record Number of Containers Vessels Lying Idle

The global idle containership fleet hit a record high in 2015 reaching nearly six times that of the start of that year.

Analyst Alphaliner reports that idle capacity was 1.36 million TEU at the end of 2015 compared to 0.23 million TEU at the beginning of the year.

A record level of vessel deliveries saw 214 new container ships enter the market in 2015, says Alphaliner. These new ships added 1.72 million TEU (Mteu) to the global fleet, while only 0.20 Mteu were removed as a result of scrapping, conversions or casualties.

This meant the cellular container ship fleet reached a total slot capacity of 19.94 Mteu at the end of 2015, growing by 8.5 percent over the 12 months.

At the end of December, average China Containerized Freight Index (CCFI) freight rates from China were 32 percent lower than a year ago, and charter rates fell by 23 percent year-on-year. Both freight and charter markets crumbled under the pressure of the severe imbalance between demand and supply, says Alphaliner.

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Analyst Alphaliner reports that idle capacity was 1.36 million TEU at the end of 2015 compared to 0.23 million TEU at the beginning of the year.

A record level of vessel deliveries saw 214 new container ships enter the market in 2015, says Alphaliner. These new ships added 1.72 million TEU (Mteu) to the global fleet, while only 0.20 Mteu were removed as a result of scrapping, conversions or casualties.

This meant the cellular container ship fleet reached a total slot capacity of 19.94 Mteu at the end of 2015, growing by 8.5 percent over the 12 months.

At the end of December, average China Containerized Freight Index (CCFI) freight rates from China were 32 percent lower than a year ago, and charter rates fell by 23 percent year-on-year. Both freight and charter markets crumbled under the pressure of the severe imbalance between demand and supply, says Alphaliner.

Read Full Article