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Global idle box fleet rises to 1.4 million TEU in February
THE number of idle containerships at the end of February stood at 350 with an aggregated capacity of 1.4 million TEU, up from the 1.3 million TEU over a month ago.
Some forecasts had put the number higher, but a number of carriers slowed their vessels down at the end of their backhaul voyages to delay their next sailings by some days in order to extend the rotation of a loop by 10 per cent during a full cycle, said Affinity Research data manager and newbuilding analyst Fotios Katsoulos.
"Once again, it was non-operating owners who saw their idled fleet rising, even if only marginally, up to 1.1 million TEU," said Mr Katsoulos, reported Bunkerspot, of Adderbury, Oxfordshire.
Idle fleet capacity could also rise in the near term, he suggested, since the launch of the new alliance services will attract more ships above 8,000 TEU at the expense of smaller tonnage. "Several VLCS between 9,000 and 11,000 TEU left waiting almost ready at shipyards will have to get delivered, so that any gaps in the new alliances' sailing slots get filled."
However, looking ahead to the summer, Mr Katsoulos sees prospects for reductions in the idle fleet as a result of new charter agreements coming into play.
"Among the VLCS to be reactivated, we include some former Hanjin chartered ships (around 10,000 TEU) that haven't been active since the collapse of the South Korean liner operator in September 2016. Additionally, seven ex-Hanjin 13,000 TEU ships will be fully employed by the 2M partners Maersk Line and MSC, joining a pair that has already joined Maersk services within the next three months."
Some forecasts had put the number higher, but a number of carriers slowed their vessels down at the end of their backhaul voyages to delay their next sailings by some days in order to extend the rotation of a loop by 10 per cent during a full cycle, said Affinity Research data manager and newbuilding analyst Fotios Katsoulos.
"Once again, it was non-operating owners who saw their idled fleet rising, even if only marginally, up to 1.1 million TEU," said Mr Katsoulos, reported Bunkerspot, of Adderbury, Oxfordshire.
Idle fleet capacity could also rise in the near term, he suggested, since the launch of the new alliance services will attract more ships above 8,000 TEU at the expense of smaller tonnage. "Several VLCS between 9,000 and 11,000 TEU left waiting almost ready at shipyards will have to get delivered, so that any gaps in the new alliances' sailing slots get filled."
However, looking ahead to the summer, Mr Katsoulos sees prospects for reductions in the idle fleet as a result of new charter agreements coming into play.
"Among the VLCS to be reactivated, we include some former Hanjin chartered ships (around 10,000 TEU) that haven't been active since the collapse of the South Korean liner operator in September 2016. Additionally, seven ex-Hanjin 13,000 TEU ships will be fully employed by the 2M partners Maersk Line and MSC, joining a pair that has already joined Maersk services within the next three months."
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