Several Asian carriers have significantly trimmed the number of containerships they own in their fleets over the last 15 months as they sought to reduce exposure to the fragile liner shipping markets, according to Alphaliner’s latest newsletter. The seven major Asian operators surveyed by Alphaliner have disposed of 282,000 20-foot equivalent units of capacity during the period, representing 16 percent of their combined fleet. This includes 155,000 TEUs that these operators scrapped and a further 127,000 TEUs that were sold in the secondhand market and in financial engineering deals.
The Asian carriers were not the only operators trimming their fleets. Among the other main carriers, CMA CGM, MSC and Maersk have also taken steps to dispose of parts of their fleets. However, for most of the Asian carriers, the disposals were not compensated by the delivery of new ships or through new charters, as was the case for CMA CGM and MSC, which resulted in a loss of market share for the Asian carriers. Also as a percentage of the total owned fleet, the Asian carriers’ disposals are significantly higher.
In particular, the moves by the three Japanese carriers -- NYK, MOL and “K” Line -- to reduce their exposure to the liner trade, mark a longer-term shift in these carriers’ corporate strategies to downgrade the container shipping business segments. Within the last few months, NYK and “K” Line (as well as Japanese owners related to “K” Line) have sold nine over-Panamax containerships.
The Asian carriers were not the only operators trimming their fleets. Among the other main carriers, CMA CGM, MSC and Maersk have also taken steps to dispose of parts of their fleets. However, for most of the Asian carriers, the disposals were not compensated by the delivery of new ships or through new charters, as was the case for CMA CGM and MSC, which resulted in a loss of market share for the Asian carriers. Also as a percentage of the total owned fleet, the Asian carriers’ disposals are significantly higher.
In particular, the moves by the three Japanese carriers -- NYK, MOL and “K” Line -- to reduce their exposure to the liner trade, mark a longer-term shift in these carriers’ corporate strategies to downgrade the container shipping business segments. Within the last few months, NYK and “K” Line (as well as Japanese owners related to “K” Line) have sold nine over-Panamax containerships.