Container shipping has yet to recover from the COVID-19 crisis. File Image / Pixabay
Idle capacity in the container fleet reached a record high at the end of last month, according to shipping intelligence service Alphaliner.
The idle fleet reached 551 ships by May 25, covering 2.72 million TEU of capacity, the company said in a research note Tuesday.
That represents 11.6% of total global capacity.
“As countries around to globe are gearing towards the resumption of their economy, some carriers have re-instated a selected number of sailings which they initially planned to blank,” the company said.
“However, carriers still continue to plan blank sailings in the near term, as they remain cautious in assessing the level of demand.
“Globally, the lockdown measures have resulted high unemployment numbers, general loss of business, and significant declines in customer purchasing power.
“All this is not expected to rebound immediately.”
The number of container ships currently idle for scrubber retrofits continues to decline, the company said, at 64 ships as of May 25.