The world's idle container ship fleet in late September was 1.6 per cent, totalling 224,000 TEUs.
The world's idle container ship fleet in late September was 1.6 per cent, totalling 224,000 TEUs. This is slightly higher than the position in mid-September when it was 1.5 per cent totalling 213,000 TEUs.
The slight increase is attributed to the arrest in Singapore of three ships of 5100-TEU each owned by Islamic Republic of Iran Shipping Lines. Most carriers are not sure if the winter season demand will pick up because the autumn demand continues to be far from satisfactory.
Although no major services have been closed except the peak season Asia-Australia service, which was discontinued in August, the shipping lines still prefer to wait and watch.
Meanwhile, latest Shipping Confidence Survey published for three-month period till August shows a slight weakening compared to the results of the previous quarter with score of 6.2/10, down from 6.3/10 which was the highest in 18 months. In May 2008, when the survey was launched, the score was 5.6/10.
A number of respondents commented on the adverse effect of what one described as the ?negative effect created by the huge overhang of new orders?. ?Owners have to understand that by continuing to order newbuildings for their fleets they are simply laying the foundation for self-destruction on a long-term basis,? observed one respondent.
Uncertainty about the world economy continued to influence the thinking of many of those who responded to the survey.