Large Box Ships Out of Favour

Ship ordering for giant container vessels has ground nearly to a halt just as European traffic demand has turned up. The orderbook has dropped to beneath 20% of fleet capacity, compared to nearly 50% several years back. According to Platou’s numbers, only three containerships were ordered in June, all below 3,000 teu. Through the first half, 74 ships were ordered, including 33 vessels above 10,000 teu, accounting for more than two-thirds of the 620,000 teu capacity. The present pace is well below that of recent years. New orders amounted to 247 vessels of 1.97m teu in 2013, and 240 vessels of 1.9 million teu in 2012.