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Season's idle fleet numbers back up to more than one million TEU

THE idle containership fleet has grown back to more than one million 20 TEU after a brief dip in July, with rising unemployment impacting all vessel sizes, says Paris-based Alphaliner.

Season's idle fleet numbers back up to more than one million TEU
23 August 2016 - 21:12
Season's idle fleet numbers back up to more than one million TEU

THE idle containership fleet has grown back to more than one million 20 TEU after a brief dip in July, with rising unemployment impacting all vessel sizes, says Paris-based Alphaliner.

There were 296 unemployed ships of more than 500 TEU with a total capacity of 1.02 million TEU, equivalent to five per cent of the total fleet, on August 8, compared with 261 ships of 906,000 TEU two weeks earlier, according to Alphaliner analysts.

The number of idle 4,000 - 5,100 TEUers has hit an all-time high of 83 units, of which 82 are controlled by non-operating owners, because of neopanamaxes of up to 13,000 TEU can now transit the widened Panama Canal.

Also 2,000 - 3,000-TEUers have been hit by re-deliveries, with 55 such ships now looking for work. 

There are 18 more 7,500 TEUers plus going idle of which five are controlled by non-operating owners.

The current idle fleet is almost three times the 345,916-TEU unemployment figure of a year ago.

With old panamaxes being chartered at less than US$5,000 a day, some owners are opting to lay-up their tonnage rather that trade them at current market rates.

'Significantly more scrapping will be needed before charter rates could start moving upwards again," Alphaliner said.

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