Idle container shipping capacity soars

The idle container shipping fleet has soared to 1.7 million teu this year, driven up by Hanjin's collapse and from carriers withdrawing ships from service at a rapid rate in an attempt to limit the impact of chronic overcapacity and weak demand.

News ID: 70730

Date: 07 December 2016 - 12:13

According to MANA, The number of idle ships has increased from 238 vessels in November 2015 with a combined capacity of about 900,000 teu to 435 ships aggregating 1.7 million teu in early November of this year, according to Drewry.

At the beginning of 2015, idle containerships comprised just 2.5% of the global fleet, while ships currently laid up in quiet waterways around the world now account for 9% of the global fleet.
Container shipping analyst Alphaliner also looked at the hopeless situation of Panamax owners. It said 50 Panamaxes had been sold for scrap since the expanded Panama Canal locks opened, but another 100 vessels needed to quickly head for demolition if there was to be any chance of rebalancing supply and demand.