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2015 will see a new record inflow of newbuilt tonnage. BIMCO forecasts close to 1.6 million TEU will be delivered by the end of 2015. This marks the highest inflow of new capacity ever.
2014 turned out to be a very hectic year for the demolition market and it became clear just how volatile the market really can be. Previous experiences tells us the end of the year is usually one of the busiest moments for scrapyards, however in 2014 this effect was washed out by declining demolition prices.
The demand situation is developing a tad slower than what the market had anticipated. After the expected dip around Chinese New Year (February), volumes have failed to pick up markedly.
The 2015 has started off as a pretty challenging year for the container shipping industry. With volatile spot rates coupled with oversupply and ordering of ever bigger ships, shipowners across the board seem to have a lot on their plates.
The challenge of redeploying laid-up vessels in a market flooded by newbuildings creates a market balanced on a knife edge
The current spot price level from Shanghai to the US West coast indicates that tonnage supply is tight - Freight rates have hiked 23% in 5 weeks
Overall Asian exports look weak for the moment, as consumers hold back across the board.
The development in demand reflects very clearly the slow growth in key areas of the world economy and the poor consumer confidence. Towards the end of 2011, rates on all trades jumped significantly – this was a complete reversal of recent fortunes, as rates jumped upwards by 13-30% week-on-week.
Towards the end of 2011, we got the first indication that liner companies were winning “the pricing battle” against shippers on the level of freight rates on the main lanes from Far East to Europe and the Mediterranean.
