Box ship orderbook shrinking

The total capacity of containerships on order worldwide has declined to 6.1 million TEU, comprising 1,147 vessels, as of 1 February, 2009, according to figures compiled by AXS-Alphaliner News. Claimed as being the lowest level over the past 16 months, AXS said the world order book represents 49.1% of the existing containership fleet, down from a peak of 64% cent in November 2007.

The report also noted that for the first time in at least two decades, no orders have been placed for new containerships in four months while several existing orders have been either cancelled or converted to other ship types.