THE number of idle containerships has increased to 392, aggregating to 1,100,000 TEU, or 8.8 per cent of the cellular box fleet, according to Paris-based AXS-Alphaliner News.
Big ships continue to pile up at Asian anchorages as they end rotations when hoped for resurgence of exports from China after Chinese New Year did not to occur as expectations darkened with analysts predicting exports falling 15 - 20 per cent in the firm quarter.
This is far worse than the 3.2 per cent of ships laid up in March 2002, the height of the last downturn, said Alphaliner, adding that this was the worst state of affairs in containership history, more serious than the 5 per cent laid up in 1986 when the entire US Lines fleet, with the world's biggest box ships at the time, was frozen in bankruptcy.
Alphaliner also said that an average annual growth of 15 per cent in the container trades over three years would be needed to bring the supply and demand back into balance in 2013. A more pessimistic view, reckons on a 10 per cent annual growth, to see equilibrium in 2014.
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