World fleet has grown 50% since crisis

The world fleet has grown 50% since the financial crisis in 2008 and now stands at some 9,000 ships of 1.2bn gt and 1.8bn dwt .

News ID: 69051

Date: 30 September 2016 - 17:03

According to MANA,.Fleet growth in gt terms peaked at 8% in 2010 and 2011 but is expected to be only 3% this year and decline further to nearer 2% by 2018.
On the shipping side the current growth spurt was exacerbated by heavy ordering of newbuilds in the years 2010, 2013 and 2015, with factors such as the injection of funds by Private Equity, the allure of new ‘eco-ships’ and the deadline for Tier III NOx emissions all contributory factors.
Net result of the present overcapacity is that demolition is on the rise, particularly in certain segments, Gordon reported. 1H 2016 was a record period for bulker demolitions, he said, with 22.1m dwt reported scrapped, while Alphaliner has this month reported the demise of a 10-year panamax containership, the youngest undamaged boxship ever consigned to scrap.