Alphaliner: The Fate of Classic Panamaxes

Illustration; Image Courtesy: Diana Containerships

The fleet of classic Panamax containerships of 4,000-5,300 TEU dropped to 543 units, against its peak of 670 witnessed in 2013, according to Alphaliner.

The obsolescence of the classic Panamax ships comes on the back of the opening of the new Panama locks in June 2016, which allowed much larger Neo-Panamax ships to transit between the Pacific and Atlantic Oceans.

These vessels now struggle to find sufficient alternative employment options to keep all of the fleet busy, leading to an oversupply and poor prospects in the short to medium term.

The number of Panamax ships of 4,000-5,300 TEU transiting the Panama Canal dwindled from 221 vessels to only 47 units over a period of 15 months from June 1, 2016 to September 1, 2017, according to Alphaliner.

Of the 47 ships that remain on the trans-Panama routes, 30 are currently deployed on three Far East-US East Coast/US Gulf services.

By comparison, up to 150 classic Panamaxes were employed on 15 such loops prior to June 2016, while a further 50 units were deployed in other trans-Panama services.

“Classic Panamax containerships have faced a double whammy, both from the opening of the new Panama locks that has made some 170 of them redundant on the trans-Panama trades, while cascadings triggered by the constant stream of ULCS newbuildings have pushed classic Panamax ships out of other tradelanes,” Alphaliner said.

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 >