World News
Alphaliner: Container Ship Orderbook-to-Fleet Ratio Sets New Low
Alphaliner, in its latest weekly newsletter, said the container ship orderbook-to-fleet ratio has reached a new low, having dropped to just 14.1 percent as of May 1, 2017.
The ratio is noted to have been declining steadily since it peaked at 64.2 percent at the end of 2007.
"Although there were three minor waves of new ship orders recorded in 2011, 2013 and 2015, they were insufficient to reverse the depletion of the orderbook as new orders failed to keep pace with vessel deliveries in view of the overcapacity of large vessels and a lack of incentives to order smaller ships," explained Alphaliner.
The ratio's previous low of 14.6 percent was set in January 1999, says Alphaliner, adding that the current "slump" is expected to be both deeper and longer-lasting.
Alphaliner suggests that the ratio will likely shrink further over the coming months, as no new major orders are expected to be placed until the end of 2017.
"Between January 2016 and May 2017, a total of 106 container ships for 341,000 teu have been ordered, compared to total deliveries of 189 ships for 1.28 Mteu over the same period," said Alphaliner.
In January, Alphaliner said 2017 could be a record year for container ship scrapping, with projections suggesting that as much as 750,000 TEU were on track for demolition.
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