Unemployed Container Capacity Reaches 1.35 million TEU

453 idle box ships equivalent to almost 11 percent of world fleet.

According to French-based liner shipping expert AXS-Alphaliner, unemployed ocean container capacity has reached a record 1.35 million TEUs. As many as 453 ships are now without work in the face of a contracting global economy. The latest statistics show a continued decline in this sector of the business, with idled capacity up from 392 vessels of 1.1 million TEUs just two weeks ago.

At this point, approximately 11 percent of the world cellular container ship fleet is now idled. This figure represents the worst numbers since statistics have been compiled on the subject, and is now far worse than that experienced in the last downturn of 2002. In fact, idled capacity has tripled since the beginning of the year when it stood at 210 ships of 550,000 TEUs. In general terms, the slump crosses across all sectors and sizes of the containership markets, but feeder sector (1,000 – to – 2,000 TEU’s) appears to be hardest hit.

According to AXS-Alphaliner, “Around 220 of these 453 ships are charter market ships, presently without charter and awaiting employment. Most of these ships are of a capacity of less than 3,000 teu and they aggregate 320,000 teu. The remaining 233 idle ships, aggregating 1,030,000 teu are controlled by carriers (either owned or chartered).”

Idle ships by size ranges:

TOTAL : 453 units for 1,350,000 teu

• 7,500-10,000 teu = 23 units
• 5,000-7,500 teu = 58 units
• 3,000-5,000 teu = 89 units
• 2,000-3,000 teu = 77 units
• 1,000-2,000 teu = 123 units
• 500-1,000 teu = 83 units.

(Figures at 02 March 2009 / compiled by AXS-Alphaliner)

AXS-Alphaliner on the WEB: http://www.alphaliner.com