Non-operating owner idle fleet at record high

The Non-Operating Owner (NOO) fleet of idle containerships has risen to 654,000 teu, the highest level ever recorded, according to the latest Alphaliner fleet survey.

The carrier-controlled idle fleet stood at 643,000 teu and has fallen below the NOO idle fleet for the first time since Alphaliner started tracking the idle containership fleet in October last year. Alphaliner?s idle fleet survey registered 379 NOO ships that are presently without employment compared to 169 idle ships controlled by carriers (both

owned and chartered).

The total idle fleet stood at 548 units for 1.298 Mteu as at 28 September. This represents 10.0% of the total fleet capacity (measured in teu) or 11.6% of the total number of cellular ships.

? the worldwide reference in liner shipping

Carriers continued to favour larger ships at the expense of smaller vessels due to scale economies and the comparatively lower slot costs. This also led to the redelivery of smaller chartered ships on the spot market where they have difficulty finding employment. Additionally, rationalisation of services run with 1,000-2,000 teu tonnage has led to an increase of idle tonnage in this size range.

With the closure of a number of high-capacity loops due to become effective in October, the idle containership fleet is expected to rise further in the fourth quarter. The idle figures would have been higher if not for the late/postponed delivery of several large ships that were due to join the fleet in September but have been deferred to subsequent months.

The outlook for the next few months remains negative as the end of the peak season will likely see a further surge in the idle fleet numbers. Several service withdrawals and rationalisations will fully take effect from October/November and this will likely push idle capacity figures to a new record high by the end of the year.