Alphaliner reported that the average capacity operated by the 13 largest carriers over the first five months of the year has increased by 9.1 per cent compared to the same period of 2017.
ZIM has experienced the fastest pace of growth, with a 24.5 per cent increase, while Hyundai Merchant Marine is the sole line to have posted a decrease, with a 24.6 per cent drop. HMM also recently announced that it will exit the Transatlantic trade when it ceases to purchase slots on 2M vessels.
The increased capacity on offer from the other 12 carriers suggests that they have decided to once again fight for market share rather than profits, with Alphaliner noting that the average CCFI freight rate decreased by seven per cent between the first five months of 2018 and the same period of 2017, while bunker prices surged by 47 per cent.
Alphaliner reported that the capacity of the idle fleet as of May 14th stood at 227,865 TEUs (versus 427,865 TEUs in early April) spread across 81 vessels (down from 96 vessels last month). A total of nine vessels had a capacity of at least 7,500 TEUs (compared to 22 last month), of which just two had a capacity of at least 12,500 TEUs (down from nine last month). The idle fleet accounts for 1.0 per cent of the total available capacity, a decrease compared to last month’s 2.0 per cent.