In its weekly report Alphaliner noted that as of 13 February the number of idle boxships over 500 teu in capacity had increased over two weeks earlier and now totals 366 ships with a total capacity of 1.62m TEU, up around 140,000 TEU.
What the analyst classifies as the “commercially idle” fleet now comprises the majority of inactive capacity. The idle fleet accounts for 53% of the inactive fleet while tonnage in drydock represents 47%.
The percentage of vessels in drydock continues to increase although at a slower rate than the commercially inactive fleet. When markets are strong owners delay all but the most essential repairs to maximise earnings for their vessels.
“The proportion of commercially idle tonnage represented just 21% a year ago, versus the aforementioned 53% today,” the analyst commented.