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Containership deliveries, newbuilds hit historic lows, says new study

CONTAINERSHIP deliveries in the first half reached a historic lows as did newbuilding orders, said MPC Container Ships ASA, an Oslo-based owner and operator of box ships

Containership deliveries, newbuilds hit historic lows, says new study

CONTAINERSHIP deliveries in the first half reached a historic lows as did newbuilding orders, said MPC Container Ships ASA, an Oslo-based owner and operator of box ships

02 September 2019 - 19:00

CONTAINERSHIP deliveries in the first half reached a historic lows as did newbuilding orders, said MPC Container Ships ASA, an Oslo-based owner and operator of box ships.

Scrapping activity in the feeder segment remained at a comparable high level in Q2 2019 as in the previous quarter, reported MarineLink, New York.



Overall, newbuild contract activity in the first six months of 2019 amounted to 54 vessels totalling 260,000 TEU capacity, a year-on year decrease of 60 per cent. At present, the newbuilding order-book amounts to 11 per cent of the fleet, the lowest in years.



Estimates for global container trade growth for FY 2019 ranges between three to 3.5 per cent while growth in active container fleet capacity (fleet development less scrubber retrofits) is estimated to grow 1.9 per cent



Charter rates for containerships in the postpanamax segment began to rise in March this year. In the following months, this development filtered through into the smaller segments, recently affecting the feeder market.



One determining factor for this development is the installation of scrubbers to meet the requirements of IMO 2020 regulations and the need for replacement tonnage during retrofits.



As a result, the idle container fleet grew from a low of 1.3 per cent (April 2019) to 2.5 per cent (August 2019) of the total fleet.



Global seaborne box trade was estimated to grow by two per cent in H1 2019, but headwinds from the global economy put pressure on certain trade routes.



Total deliveries during H1 2019 stood at 76 units (51,000 TEU), with vessels larger than 12,000 TEU accounting for 39,000 TEU (76 per cent of the total growth) while ships below 3,000 TEU accounting for remaining 7,000 TEU (14 per cent of total growth).



H1 2019 containership scrapping stood at 59 units totalling 120,000 TEU, on par with total boxship capacity recycled during all of FY 2018. Feeder container ships of less than 3,000 TEU accounted for more than half of the recycled capacity.


WORLD SHIPPING

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