New ConTex: scrapping is the key!
(13.1.2017) It is human nature to find cause for optimism, and the new year brings with it fresh hopes for a recovery in container shipping although the market remains fundamentally imbalanced. As a matter of fact the New ConTex is again improving in all segments this week although overall it is down 11,4 % on year on year, the container market continues to suffer from excess capacity, with the weakness expected to persist for at least one more yea.
The global containership fleet grew by only 1.5% to reach 20.27 Mteu at the end of 2016, the lowest annual growth rate ever recorded in the industry’s history. The low growth rate was driven by the record number of ships scrapped, with a total of 192 containership for 654,900 teu demolished in 2016. The total capacity of containerships deleted reached 200 units for 664,300 teu after adding a handful of de-celled ships and two casualties. We can only hope this tiny recovery of our market will last and the market continues to improve,