More containerships laid-up

9/25/2012

The idle containership fleet has exceeded the 400,000teu mark for the first time since mid-May as market conditions continue to deteriorate.

Spot prices fell 3.8% to $1,172 per standard container last week after dropping 5.1% in the previous seven days, and have tumbled 38% since 29 June, according to London-based ship broker ICAP.

The development is hitting non-operating owners hardest – this group accounts for 80% of idle capacity, against ocean carriers with 20%.

Inactive containership capacity last week stood at 290 ships aggregating to 420,000teu, equivalent to 2.6% of the global boxship fleet, according to Lloyd’s List Intelligence’s latest survey.

This represents an increase in idle capacity of 2% compared with  last week, with the increase noted in both the short-term and long-term inactive categories.

The location of the idle fleet is also important, with most idle vessels anchored in Asia.

Some 41% of the world’s idle container fleet is laid up in China,  South Korea and Russia, with 27% in Vietnam, Thailand, Malaysia and Indonesia. 

The survey shows that the biggest vessel out of work is the 1998-built, 7,226teu Svendborg Maersk, which has been idle outside Qiawan since 12 August.