Business Data
Global industry overview - container supply: fleet growth still outpacing demand
The big picture on the s upply s ide of the box indus try remains broadly unchang ed relative to where it was a year ag o, althoug h there are s ome s ig ns that the long -s tanding is s ue of overcapacity may very g radually beg in to eas e. The es s ential problem is the s ame as it has been s ince the 20 0 9 g lobal economic recess ion began. There are too many container s hips relative to the current volume of global trade, and too much box capacity on the market. At thes ame time, however, many companies s ee s ig nificant economic advantage in following the trend to larg er, more modern and fuel efficient ves s els . Therefore, new orders have continued being placed, exces s capacity continues to be pres ent in the market, and s hipping lines are trying to manage the s ituation through arang e of techniques s uch as s low-s teaming and idling ves s els . We believe this s ituation, which has been pres ent over the las t five years , s till has s ome time to run, althoug h we predict a g radual eas ing of the problem. Global containers hip capacity, meas ured in deadweig ht tonnes (dwt), has been g rowing at a pers is tent rate. In late March it s tood at 215,76 7dwt, 5% above year-ago levels . Capacity g rowth has remained remarkably s teady around the 5% mark in recent years - which is of course higher than the growth in global consumption (which we predict at 2.7% in 20 14 and 3.0% in 20 15).