STATISTICS from Alphaliner show that the shift by some ocean carriers to owning more tonnage rather than chartering-in ships has depleted the containership charter market by 1.6 million TEU.
Concerns have been raised in shipbroker circles that this reduction of 'open' tonnage will hinder the ability of the industry to cope with the normal seasonal peaks and troughs of the liner trades, reports London's Loadstar.
The flight of tonnage controlled by NOOs (non-operating owners) began in August 2020, when carriers, flush with cash from soaring freight rates, began tapping into their fleets. In just 18 months, a staggering 500-plus containerships have been sold to liner operators through the second-hand market, 'a massive fleet exodus', said Alphaliner, 'which finds its root cause in the post-Covid cargo demand bonanza'.
'Buying, rather than chartering, ships quickly became financially more relevant for liner operators, especially in the early days when second-hand assets were cheap,' said Alphaliner.
Moreover, for many smaller NOOs that had struggled to navigate years of sub-economic daily hire rates - many teetering on the verge of bankruptcy - the cash offers for their ships were too good to refuse.
The strong demand for tonnage on the S&P market has pushed asset valuations to historic highs, for even elderly boxships, reducing the scrapping candidates in the sector to virtually zero.
Shipbroker sources have told Loadstar of their concern at the dearth of open container tonnage on the market at present, and of the lack of future candidates.
'As it stands, the prospects are not good,' said one broker, 'however, we think that when things return to some form of normal that the carriers might look to charter-out some of the smaller tonnage they acquired which becomes surplus to their requirements - that will give us something to sell,' he said.
SeaNews Turkey
Concerns have been raised in shipbroker circles that this reduction of 'open' tonnage will hinder the ability of the industry to cope with the normal seasonal peaks and troughs of the liner trades, reports London's Loadstar.
The flight of tonnage controlled by NOOs (non-operating owners) began in August 2020, when carriers, flush with cash from soaring freight rates, began tapping into their fleets. In just 18 months, a staggering 500-plus containerships have been sold to liner operators through the second-hand market, 'a massive fleet exodus', said Alphaliner, 'which finds its root cause in the post-Covid cargo demand bonanza'.
'Buying, rather than chartering, ships quickly became financially more relevant for liner operators, especially in the early days when second-hand assets were cheap,' said Alphaliner.
Moreover, for many smaller NOOs that had struggled to navigate years of sub-economic daily hire rates - many teetering on the verge of bankruptcy - the cash offers for their ships were too good to refuse.
The strong demand for tonnage on the S&P market has pushed asset valuations to historic highs, for even elderly boxships, reducing the scrapping candidates in the sector to virtually zero.
Shipbroker sources have told Loadstar of their concern at the dearth of open container tonnage on the market at present, and of the lack of future candidates.
'As it stands, the prospects are not good,' said one broker, 'however, we think that when things return to some form of normal that the carriers might look to charter-out some of the smaller tonnage they acquired which becomes surplus to their requirements - that will give us something to sell,' he said.
SeaNews Turkey