The world’s idle containership fleet has fallen to its lowest level in over two years, despite the continuing decline of freight rates, ifw-net reports.
According to figures released by Paris-based analyst Alphaliner, the number of vessels currently in lay-up dropped by 25 over the past month to reach a total of 84 ships, or 185,000teu, of which 23 are owned by shipping lines, down from 39 last month.
Shipping lines are under pressure from declining rates, which recently reached their lowest level since September 2009.
But so far there has been no indication that the lines have any plans to withdraw capacity in order to push rates up – as they did in November 2008, when the idled fleet reached its highest ever level.
In fact, Alphaliner has suggested that the number of idle vessels could decrease further over the coming months as carriers re-introduce ships to prepare for volume increases during the up and coming peak season.
Another analyst, SeaIntel Maritime Analysis, released a report this week suggesting the world’s ten top container lines could see revenues decline by US$13.3 billion this year, unless carriers can push-up rates.
Low rates could even result in some carriers reporting losses this year, it said.
However, prices have yet to sink as low as they did in October 2008, when shipping lines were offering rates on Asia to Europe services as cheaply as $350 per container.
At that time, 600 containerships, representing 1.4 million teu, were laid-up, as carriers had taken vessels out of service in order to restrict capacity supply and improve rate levels.
The vast majority of the current idled fleet are smaller vessels, with 22 ships of between 500teu and 1,000teu and 27 of 1,000-2,000teu.
According to figures released by Paris-based analyst Alphaliner, the number of vessels currently in lay-up dropped by 25 over the past month to reach a total of 84 ships, or 185,000teu, of which 23 are owned by shipping lines, down from 39 last month.
Shipping lines are under pressure from declining rates, which recently reached their lowest level since September 2009.
But so far there has been no indication that the lines have any plans to withdraw capacity in order to push rates up – as they did in November 2008, when the idled fleet reached its highest ever level.
In fact, Alphaliner has suggested that the number of idle vessels could decrease further over the coming months as carriers re-introduce ships to prepare for volume increases during the up and coming peak season.
Another analyst, SeaIntel Maritime Analysis, released a report this week suggesting the world’s ten top container lines could see revenues decline by US$13.3 billion this year, unless carriers can push-up rates.
Low rates could even result in some carriers reporting losses this year, it said.
However, prices have yet to sink as low as they did in October 2008, when shipping lines were offering rates on Asia to Europe services as cheaply as $350 per container.
At that time, 600 containerships, representing 1.4 million teu, were laid-up, as carriers had taken vessels out of service in order to restrict capacity supply and improve rate levels.
The vast majority of the current idled fleet are smaller vessels, with 22 ships of between 500teu and 1,000teu and 27 of 1,000-2,000teu.