The number of 500+ teu containerships idled will hit a record high by the end of the year, according to French analysts Alphaliner.
A total of 329 ships equivalent to 1.4m teu – equivalent to 7% of the global fleet – were laid up by the end of November, up by 23 ships from a fortnight prior. Laid up ships leapt by 400,000 teu in November are on course to break December 2009’s all time record of 1.5m teu soon. This comes despite a marked uptick in the number of ships being sent for scrap.
“The forthcoming Christmas season will do little to stimulate demand, adding to the market’s overall misery,” Alphaliner warned.