BIMCO: Containerships Speeding Up

Image Courtesy: WSC

The lower fuel price may not be such a blessing for containership owners after all, especially with relation to slow-steaming which was originally introduced as a way to deploy more ships without increasing capacity on the strings.

Nevertheless, despite lower bunker costs that have been warmly welcomed by owners as they fight to attain profit, low oil prices have seen ship speeds go up now that the fuel is much cheaper, even in the tramp shipping segments, BIMCO said.

By mid-January 2016 HFO 380 cSt was quoted at USD 112 per tons in Rotterdam and USD 152 per tons in Singapore (Marine Bunker Exchange). This compares to USD 242 and 281 respectively one year ago. A drop in prices of 50%.

Higher ship speeds could usher in even more chaos in a market already struggling with overcapacity.

2015 saw the injection of 208 brand new ships with a combined transport capacity of 1.67 million TEU. This was the highest supply side capacity expansion ever, including 46 ultralarge containerships (more than 13,870 TEU), 66 feeders (up to 3,000 TEU) and 99 other ships with an average size of 8,160 TEU.

However, 2016 is expected to bring around only 850,000 TEU of new capacity. Yet, it will be a year where all fleet growth will happen in the size-segments larger than 8,000 TEU, just as it has been the case every year since 2012.

According to BIMCO, the only solace is that the work done by owners and investors managed to postpone the original agreed delivery dates. Over the past year, BIMCO estimates that the postponement rate of orderbook has gone up from 15% to 30% with most of the work done in the first half of 2015.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Maritime Information Warfare 2017

Maritime Information Warfare will focus on the growing need for navies to develop their information exploitation capabilities…

read more >

INTERNATIONAL GREEN SHIPPING AND TECHNOLOGY SUMMIT

The Summit will gather key marine experts and companies around the globe which have a big influence in the industry…

read more >

The CWC 18th Annual World LNG Summit & Awards Evening

The CWC World LNG Summit will continue to give you access to premium networking opportunities as it brings together the who’s who…

read more >

Marintec China 2017

The largest maritime event in Asia Pacific, Marintec China connects maritime professionals from the entire shipbuilding supply chain together.

Over the years, Marintec China has grown to reflect the size and importance of the Asian maritime market. 2015 event is another record-breaking edition with the largest exhibition area and the highest number of industry professionals attending ever. The encouraging figures proven that China remains one of the major shipbuilding nations and Marintec China has been the most authoritative platform in Asia.

With the maritime industry facing great opportunities but also many challenges, it is important for the industry to connect and engage more to ultimately win new business in globally-significant markets. A visit to Marintec China is a great way to learn about the latest technology and innovation of the supply industry, a platform for industry professional to meet face to face, make connection and do business.

Marintec China is poised to be the definitive event and is undoubtedly a must-attend for all involved in the maritime industry.

Marintec China will be held from 5 to 8 December 2017 at the Shanghai New International Expo Centre in Shanghai, China and continue its dedication to serve as the “LEADING” platform “CONNECTING” the community and “STRENGTHENING” the maritime industry.

Marintec China offers the perfect opportunity for companies serving the maritime market to showcase their innovations, products and services to a wide audience. A platform for face to face meetings in business, creating new relationships and consolidating existing ones.

More info

read more >