Idled ocean container capacity has reached 550,000 TEUs, with 210 vessels out of work as carriers continue to cut or suspend services in the face of sharply falling demand on key liner trade routes.
The idle capacity, up from 420,000 TEUs in December, accounts for 4.5 percent of the existing world container ship fleet in TEUs, according to AXS-Alphaliner, the Paris-based consultant. This compares with 3.5 percent of the world fleet that was idled in the depths of the 2002 slump.With the suspension or closure of Far East-Europe loops and volume reductions on regional or feeder services “ships of all sizes continue to gather up at anchorages or in ports,” AXS-Alphaliner said.
The jobless fleet has grown from 165 vessels of 420,000 TEUs two weeks ago and 135 ships of 300,000 TEUs a month ago.
The idled tonnage includes seven ships of 7,500-10,000 TEUs, and 24 vessels of 5,000-7,500 TEUs. Feeder tonnage is the hardest-hit sector with 68 vessels of 1,000-2,000 TEUs at anchor.
Idle vessels include 125 ships whose charters have expired and are seeking employment.
The total weekly capacity of the three main East-West liner routes has fallen by 11.5 percent from 916,000 TEUs to 812,000 TEUs since Aug. 1, AXS-Alphaliner said. The decline accelerated in December when several Far East-Europe loops were abruptly closed or suspended, removing almost 30,000 TEUs of weekly capacity.
Capacity on the Far East-Europe-Mediterranean trades has declined 16 percent in the past five months, from 418,000 TEUs per week to 351,000 TEUs. Far East-North America capacity is down 9 percent to 342,000 TEUs from 376,000 TEUs.
Europe-Mediterranean-North America capacity has been cut by 2.5 percent from 121,500 TEUs to 118,000 TEUs (source: joc.com).
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