Box ship deliveries remain on track to reach 1.4M TEU by the end of the year, exerting pressure on the market.
Alphaliner said container ship deliveries have already reached 557,000 TEU in the past four months and over 900,000 TEU of box ship capacity is still scheduled for delivery in the remainder of this year, including 750,000 TEU from ships of 10,000 TEU or larger.
Alphaliner said “Forward delivery dates for the majority of these big vessels are pretty much firm, as ships totalling more than 500,000 TEU have already been given service assignments.” Further to this, Alphaliner identified another 250,000 TEU of ships of various sizes that already have committed delivery dates in 2018.
Among the larger ships, COSCO’s seven remaining 19,000-21,000 TEU units due this year have all been assigned to the Asia-North Europe route with deployment by the end of October. Alphaliner added that its OCEAN Alliance partners, Evergreen and CMA CGM are also expected to firm up their assignments for six and two newbuildings respectively of 20,000-21,000 TEU, due to be delivered this year.
A further 400,000 TEU will come from more than 30 ships in the 10,000-15,000 TEU size range which remain to be delivered in 2018.
Alphaliner commented “The substantial newbuilding backlog is expected to exert pressure on the container ship market, with overall vessel supply continuing to keep ahead of the current buoyant demand. So far this year, vessel scrapping only reached 13 ships for 24,700 TEU and there is little incentive to offload further vessels in the coming months.”
Based on these trends, Alphaliner said the overall ‘net’ fleet growth should remain above 6% for 2018.