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More vessels being laid up due to low cargo demand

More vessels being laid up due to low cargo demand

The global fleet of inactive containerships have experienced significant growth in recent weeks, with a rise in both the number of commercially idled vessels and ships entering repair yards, according to the latest survey by Alphaliner.

The survey reveals that the capacity marked as inactive reached 315 ships, totaling 1.18 million TEU as of October 9. This marks the first time the inactive fleet has surpassed the one million TEU mark since late May.

Most in the inactive fleet, 186 units or 60 per cent, are marked as being in repair yards, whereas 129 units are considered idled or laid up.

Compared to the previous survey conducted on September 25, there has been a net addition of 44 ships representing 233,504 TEU. As a result, the proportion of inactive capacity rose to 4.3 per cent of the total containership fleet as of October 9, up from 3.4 per cent two weeks earlier.

The rise in the inactive container fleet has coincided with a period of very low cargo demand in the first quarter. The inactive fleet reached its peak in February at 1.68 million TEU, representing 6.4 per cent of the fleet at that time.

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