Inactive container ship fleet grows to 6.2% of capacity: Alphaliner

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The inactive container shipping fleet has now grown to 6.2% of capacity according to analysts Alphaliner.

As demand in container shipping collapses, a growing number of vessels are being either sent or sent to dry dock for repair work.

In its weekly report, Alphaliner noted that the number of grounded boxships with a capacity of over 500 TEUs increased on February 13 from two weeks earlier and now stands at 366 vessels with a total capacity of 1.62 million TEUs, a increase of around 140,000 TEU.

What the analyst classifies as a “commercially idle” fleet now comprises the majority of idle capacity. The decommissioned fleet accounts for 53% of the inactive fleet, while dry dock tonnage accounts for 47%.

The percentage of ships in dry dock continues to increase, albeit at a slower rate than the commercially inactive fleet. When markets are strong, owners delay all but the most essential repairs to maximize profits for their ships.

“The proportion of commercially idle tonnage was only 21% a year ago, versus the aforementioned 53% today,” the analyst commented.

Source: News Network

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