A few weeks back we highlighted shipping industry anecdotes that indicated idle container ships being put back into service in response to the global rebound. Now we have hard proof, thanks to data from Fearnley Fonds and Alphaliner:
Fearnley Fonds, 16 Mar 2010:
According to AXS-Alphaliner, the idle fleet has been further reduced over the last two weeks, from 495 vessels of 1.24m TEU to 474 vessels of 1.22m TEU (9.3% of fleet capacity) currently. AXS-Alphaliner expects lower idle count going forward, as new services will be launched on the Asia – Europe trade (capacity on this route expected up 7%) and there is also a pickup in demand for smaller ships to service intra-regional trades.
Ship owners could be wrong, they surely have been in the past, and this kind of data can be volatile. Yet they won’t be wrong about the global recovery they are seeing right now. They just could be wrong about how sustainable the recovery will be.
But should this trend continue, we’ll put more trust in these guys than most. Keep in mind container ship owners were just hit extremely hard by the downturn, they are far from giddy with enthusiasm these days. Yet they are starting to regain confidence in the world economy.
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