Record number of ships go idle

More than 200 box ships are estimated to be laid up at the beginning of 2009 on the back of falling cargo demand, plunging freight rates, vessel hires, and a flood of tonnage on major trade lanes, according to reports appearing in world media.

Some 165 containerships totalling 430,000 TEU were idle just before December 25, up from 300,000 TEU two weeks earlier, based on Paris-based AXS Alphaliner agency figures.

It means that 3.5% of the world fleet will be laid up, a level not experienced since the lowest point of the 2002 slump.

The agency said the unemployed tonnage includes six ships of between 7,500 and 10,000 TEU, and 19 ranging in size from 5,000 to 7,500 TEU.

Hardest hit from the industry downturn are charter ship owners who account for 105 of the 165 idle vessels.