World News
Red Sea Tensions Keep Container Idle Fleet Near Historic Lows
The idle containership fleet remains near historic lows, as sustained demand for tonnage and ongoing Red Sea disruptions keep vessels in active service.
Despite the typically slack period between Chinese New Year and the summer peak season, carriers continue to seek ships even as freight rates decline, defying seasonal trends, sector specialist Alphaliner reported.
As of March 10, Alphaliner recorded just 71 commercially idle vessels, representing a total capacity of 220,279 TEU—less than 1% of the global 31 million TEU fleet.
This marks a negligible decline of 12,000 TEU from late February, reinforcing that the container sector is effectively operating at full employment.
Despite a steady influx of new vessels, the combination of geopolitical instability and operational constraints is keeping supply tight.
With Red Sea risks escalating, container lines will continue maintaining high fleet utilisation in the near term.
Since Saturday, US forces have launched multiple strikes on Houthi targets in Yemen, prompting retaliatory attacks on US naval ships. The renewed hostilities have further escalated tensions in the region.
If Red Sea security concerns persist, ships may continue rerouting around Africa during the peak summer season, Lars Jensen, CEO of Vespucci Maritime, wrote in a recent LinkedIn post.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 518.50 | 5.00 | 648.00 | 3.00 |
| Rotterdam | 497.00 | 0.00 | 631.00 | 1.50 |
| Houston | 531.50 | 7.00 | 675.50 | 9.50 |
| Fujairah | 514.00 | 3.00 | 744.00 | 1.00 |
| Global 20 Ports Average | 553.00 | 1.50 | 746.00 | 2.50 |
| Global 4 Ports Average | 515.50 | 4.00 | 674.50 | 3.50 |
| Global Average Bunker Price | 596.50 | 0.00 | 778.50 | 2.00 |
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