New containership deliveries to surge in 2nd quarter

These figures are significantly higher than the levels recorded in the second half of last year, when only 228,000 TEU per quarter were delivered on average. The new vessel deliveries are expected to contribute to a net fleet growth of 9.6% in 2010, after taking into account expected scrapping and slippage.

In April alone, deliveries are expected to reach 150,000 TEU, the highest monthly level recorded since mid-2008. A total of 16 units of above 5,000 TEU, all to be handed over in April, have already received service assignments. This includes two 14,000 TEU vessels which are due to join MSC this month.

Deliveries are picking up with the recovery in global demand and the start of the summer peak season. Additionally, slow steaming continues to absorb capacity as fuel prices remain at levels above $450/tonne. The main driver in ship demand for the second quarter was the launching of several new loops, which absorbed newbuildings as well as idle tonnage. Besides, a number of new vessels which had been deferred now see their delivery looming.

Container trade growth in 2010 could turn out to be much stronger than expected and will likely exceed 10%, based on Alphaliner estimates. This follows a 10% contraction of global container trade in 2009, the biggest decline in modern liner shipping history. The growth estimate ties with the WTO’s latest estimates released last month which predicted that world trade is set to rebound by 9.5% in 2010. Exports from developed economies are expected to increase by 7.5% in volume terms while shipments from the developing economies could rise by around 11% as the world emerges from recession.