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Global fleet up 1.5pc with record demolitions and slow ship deliveries
CHRONIC overcapacity in the liner shipping industry led to the scrapping of a record 192 containerships for 654,900 TEU in 2016, but the demolitions failed to stop the idle fleet soaring to an all-time high of 1.59 million TEU in October before ending the year at 1.42 million TEU, Alphaliner data shows.
The excess capacity is unlikely to be soaked up soon given that 1.7 million TEU of new capacity is due for delivery in 2017. New containership deliveries in 2016 shrunk by 46 per cent year on year to 934,500 TEU in 2016.
Poor employment prospects prompted owners to delay the deliveries of 60 ships with a total capacity of 400,000 TEU, while 18 ships for 57,000 TEU are believed cancelled, reported MarineLink.
The global containership fleet expanded by just 1.5 per cent to reach 20.27 million TEU at the end of 2016, the lowest annual growth rate ever recorded in the shipping industry's history.
The excess capacity is unlikely to be soaked up soon given that 1.7 million TEU of new capacity is due for delivery in 2017. New containership deliveries in 2016 shrunk by 46 per cent year on year to 934,500 TEU in 2016.
Poor employment prospects prompted owners to delay the deliveries of 60 ships with a total capacity of 400,000 TEU, while 18 ships for 57,000 TEU are believed cancelled, reported MarineLink.
The global containership fleet expanded by just 1.5 per cent to reach 20.27 million TEU at the end of 2016, the lowest annual growth rate ever recorded in the shipping industry's history.
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