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Non-operating owners' idle ships rise to 85pc as liners trim back

THE idle containership fleet fell slightly as increased demand for 8,000- to 10,000-TEU vessels offset rising unemployment in the 1,000- to 3,000-TEU range, according to Alphaliner.

But while jobless rates stabilised, non-operating owners' (NOO) share of the idle fleet rose to 85 per cent as ocean carriers trim their own idle tonnage.

NOO's idle capacity has grown to 457,000 TEU from 393,000 TEU, which is having a major impact on the charter market.

There were 202 unemployed vessel aggregating 538,270 TEU as of June 26, compared with 195 vessels of 538,270 TEU two weeks earlier - or 2.6 per cent of the global fleet.

'With the sudden idling now resting squarely on the NOO side, carriers have been able to retain much of their bargaining power in picking up new charters at rates that have continued their downward trend," said Alphaliner.

Demand for ships over 5,500 TEU has risen strongly over the past two weeks with Maersk Line particularly active in the larger size segment, fixing 12 ships ranging up to 9,900 TEU during the period.

There are currently nine classic Panamax ships on the spot market, including three in the Atlantic, and a further 22 that are laid up and are available at a few weeks' notice. This compares with 37 ships seeking work, of which 24 were laid up two weeks ago.

Rates have stabilised below the US$8,000 threshold, with Maersk recently fixing a 5,024-TEU vessel for one to three months at $7,600 per day and Cosco chartering a 4,252-TEU ship for two to five months at $7,000.