World News
Container Fleet Growth Drops to Four-Year Low
Growth in the global container fleet has dropped to the slowest pace in four years, according to shipping intelligence service Alphaliner.
The global fleet saw growth of 2.9% last year, rising to 23.9 million TEU, Alphaliner said in an emailed note Wednesday. That compares with growth of 4% in 2019.
Last year was the first time growth fell below 3% since 2016, when the yearly rise was just 1.8%.
"Ship deliveries were the main cause," Alphaliner said.
"Capacity delivered into the market fell 21% to just 134 units or 839,842 TEU in 2020, lower than forecasts.
"And while deliveries outpaced demolition for the third year running, they remain significantly lower than the peak of 1.73 Mteu handed over in 2015.
"However, despite the fears of a market collapse at the time of the COVID-19 outbreak, 2020 concluded with a significant increase in ordering activity."
Container shipping is the largest segment of global bunker demand. Those ports with the biggest focus on boxships tended to hold onto their bunker volumes the most last year, despite the COVID-19 slump.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.50 | 1.00 | 770.00 | 3.50 |
| Rotterdam | 601.50 | 2.50 | 754.00 | 2.00 |
| Houston | 619.00 | 11.50 | 795.50 | 3.00 |
| Fujairah | 651.50 | 1.00 | 895.00 | 2.00 |
| Global 20 Ports Average | 664.00 | 1.50 | 856.50 | 2.00 |
| Global 4 Ports Average | 630.00 | 3.00 | 803.50 | 2.50 |
| Global Average Bunker Price | 718.00 | 0.50 | 914.50 | 0.50 |
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