Oversupply fears already emerging for 2013

CONTAINERSHIP deliveries are expected to reach a record high of two million TEU in 2013, according to a recent report by maritime analyst, Alphaliner, which if accurate could signal a significant oversupply problem on the horizon.


According to Alphaliner's figures, new vessel orders for delivery in 2013 have increased from 0.38 million TEU to 1.59 million TEU in the last 12 months, exceeding the 1.57 million TEU in 2008.

New orders have also outpaced deliveries in the past 12 months.

Alphaliner's data shows that a total of 222 containerships, not including undeclared options, have been ordered, while containership deliveries reached 214 units…

"With all 2011 and most of 2012 delivery slots currently booked, attention now turns to 2013 slots. Scheduled deliveries for 2013 have surged from 380,000 TEU a year ago to 1.59 million TEU today, and there is still available shipyard capacity for 2013 deliveries. If all current options, letters of intent (LOI) and intended orders were exercised, 2013 vessel deliveries could exceed two million TEU," Alphaliner said.

The new orders bring the capacity growth forecast for 2013 to 8.9 per cent, which is expected to increase further to 11.3 per cent if options and LOIs are added.

Besides, shipowners have placed orders for a total of 1.6 million TEU of new capacity since June 2010, surpassing deliveries recorded in the same period that hit 1.4 million TEU.


Since January 2010, a total of 1.58 million TEU of new containerships have been ordered. Of those newly ordered vessels, carriers' orders account for 67 per cent or 1.06 million TEU, while orders from non-operating owners (NOO) account for the rest of the 30 per cent or 0.52 million TEU, Alphaliner said.


Overall, Alphaliner's figures reveal that the total investments in new containerships since January 2010 have swollen to US$18.8 billion.