World News
Offline Container Capacity Could Reach 12.6% of Total Fleet
Wednesday April 8, 2020
Offline capacity in the global container fleet in the wake of the COVID-19 pandemic could reach 3 million twenty-foot equivalent units (TEU) in the coming weeks, according to shipping intelligence service Alphaliner.
The previous peak of offline capacity was 2.46 million TEU, reached last month, but the total could surpass that and go beyond 3 million TEU within weeks, Alphaliner said in a research note published Tuesday.
"The cargo lull is caused by general shutdowns across many key markets in nations affected by the COVID-19 pandemic," Alphaliner said.
"Several high-capacity strings will be withdrawn entirely for the second quarter."
Container shipping takes up around 22% of global bunker demand, or around 66 million mt/year.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 647.00 | 6.00 | 762.00 | 5.50 |
| Rotterdam | 599.00 | 1.00 | 751.00 | 0.50 |
| Houston | 618.00 | 11.50 | 802.50 | 6.50 |
| Fujairah | 642.00 | 5.50 | 883.50 | 5.50 |
| Global 20 Ports Average | 661.50 | 3.50 | 859.00 | 5.00 |
| Global 4 Ports Average | 629.50 | 1.00 | 799.50 | 1.50 |
| Global Average Bunker Price | 719.00 | 3.50 | 915.00 | 7.50 |
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