Bruce Barnard | Jul 21, 2011 8:13AM EDT
Four hundred and forty-eight container ships with a combined capacity of 2.78 million 20-foot equivalent units are scheduled for delivery in 2011 and 2012, adding enormous capacity well ahead of growth in demand, according to market analysts Alphaliner.
“The market fundamentals are looking less favorable compared to last year, as an overhang of surplus capacity will continue to plague the industry,” the container industry analysts said.
Deliveries will total 213 ships of 1.34 million TEUs in 2011, and 235 vessels of 1.44 million TEUs in 2012, equating to annual fleet growth of 8.7 percent in each year, Alphaliner said in a report on ship orders.
“More alarming,” the firm said, is the large capacity scheduled for delivery in 2013, which so far has reached a record high of 1.73 million TEUs compared with the previous record of 1.57 million TEUs delivered in 2008.
The figure could rise even higher in the new few months as some yards continue to offer container building slots for 2013 deliveries.
“Most carriers continue to pile up new vessel orders and the order wave does not appear to be coming to an end any time soon,” according to Alphaliner.
Carriers already are bracing for a weak peak season this year as demand growth has slowed since the third quarter of 2010 while the supply of ships has surged over the same period due to the delivery of new-built vessels and the re-activation of idle tonnage.