Boxship Orderbook Rock-bottom
Global orderbook for containership is reported to have reached a record-low compared to a ratio of existing tonnage.
According to a report newly released by Maersk Broker, newbuilding ratio of containerships on orders accounted for 19.2% as of March 2013 against existing fleet capacity, having posted below 20% and an all-time low.
This represents a continued decreasing move following 20.5% of the previous month and 27% recorded at the beginning of the year. The figure used to reach as high as 60% when newbuilding market enjoys a boom period.
Maersk Broker expected fleet supply and demand in containership market to improve in the coming years, showing a better condition against current one.
However, Maersk Broker cautions that deliveries of most vessels on orders concentrate between now and mid 2014 that an imbalance of fleet supply and demand might occur temporarily.
Newbuilding containerships to be delivered next year are expected to total 1.2m teu, but will sharply decrease to 470,000 teu around 2015.
Meanwhile, demolitions of older containership amounted to 101,643 teu during the first quarter of 2013 and Maersk Broker prospected it to be 400,000 in an annual figure.
Newbuilding orders for containerships this year are anticipated to double the volume of last year; thus, less than 500,000 teu orders of last year are expected to reach 1m teu this year. This was practically revised downwards from the estimates of earlier this year that 2013’s newbuilding projects are seen to be for end users rather than speculators.
In the meantime, total investment in newbuilding boxships came to $2.7bn for the first three months, approximately equating to figures of $3bn in tanker and $2.8bn in bulker, according to Clarkson Research.
Containership sector where $22bn worth of newbuilding orders came in 2011 showed a sharply decreased investment worth around $5.5bn last year.
Particularly, in the first quarter of 2013, new orders for containership amounted to 24 vessels of 230,000 teu, which represents a great rise against seven vessels of the same period in 2012.
Among them, 8,000 teu large containerships were recorded to be 16 vessels, followed by six medium range vessels of 3,000-8,000 teu and two Feeder containerships of less than 3,000 teu.