Idle containership fleet set to hit record high of three million teu

Idled containership capacity is expected to reach a record high of 3m teu within weeks, in the “worst capacity crisis the industry has ever seen”, according to new data from Alphaliner.

Idle containership fleet set to hit record high of three million teu

With over 250 sailings already withdrawn in the second quarter, the consultant forecasts that the lay-ups will push the idle fleet to a level twice that seen during the 2009 global financial crisis.

“No market segment will be spared, with capacity cuts announced across almost all key routes,” warned Alphaliner.

“While larger ships will be cascaded to replace smaller units on the remaining strings, carriers will be forced to idle a large part of their operated tonnage. This will affect all size segments in the coming weeks.”

In addition to the main Asia-Europe and transpacific trades, carriers have also reduced capacity on the transatlantic, Latin America, Middle-East, Indian sub-continent, Africa and Oceania routes, as up to a quarter of the world’s population is in lockdown and non-essential retailers shuttered.

THE Alliance today published details of more blank Asia-North Europe, Asia-Mediterranean and transpacific sailings for May and June, “in response to lower market demand”, including merging loops on the North Europe and Middle East tradelanes and the suspension of a transpacific string.