In the first half of the year, the global economic recovery trend

Update:25-07-2018
Summary:

In the first half of the year, the global economic reco […]

In the first half of the year, the global economic recovery trend was even stronger. According to the World Economic Outlook released by the International Monetary Fund (IMF) in April, the global economic growth rate is expected to reach 3.9% in 2018, and the growth rate is 0.1 percentage points faster than that in 2017. Among them, the growth rate of developed economies is 2.5%, and the growth rate is 0.2 percentage points faster than that of 2017; container spreaderthe growth rate of emerging markets and developing countries is 4.9%, and the growth rate is 0.1 percentage points faster than that of 2017.

According to Clarkson, in the first half of the year, global container traffic was about 99.6 million TEU, up 7.2% year-on-year, and the growth rate was 3.2 percentage points faster than the same period in 2017. Among them, the container traffic volume of the Pacific route was about 13.677 million TEU, an increase of 12.1%, and the growth rate was 5.9 percentage points faster than that of the same period of 2017. The container traffic of the Far East-Europe route was about 12.22 million TEU, an increase of 8.03.3%. In the same period of 2017, it accelerated by 4.7 percentage points.

Rapid growth in capacity, shipbreaking fell sharply

In the first half of the year, with the recovery of the market and the need for liner companies to enhance their market competitiveness, capacity has maintained a relatively fast growth since the second half of 2017. According to Clarkson's statistics, as of the end of May, the number of global container ships was 5,230 and 21.494 million TEUs, a year-on-year increase of 6.7%, and the growth rate was 5.6 percentage points higher than that in the same period of 2017. Among them, the vessels below 8000 TEU decreased by 0.3%; the vessels of 8000 TEU and above increased by 14.8%, the growth rate was 5.3 percentage points faster than that in the same period of 2017, accounting for 50.3% of the total capacity.

Ship dismantling volume fell sharply year on year. The market's demand for capacity increases, as well as the active leasing market, reduces the shipowners' willingness to dismantle. According to Clarkson's statistics, in the first four months, the container ship dismantling capacity was 25,800 TEU, a sharp drop of 89.2% year-on-year. Transportation demand continued to rise, boosting capacity demand, and the size and proportion of idle capacity remained low. Since the beginning of the year, the peak of supply before the “Spring Festival” in China has increased the market demand for capacity, and the size of idle capacity has continued to decline and has hit a new low since February 2015. After the holiday, the traditional off-season, with the liner company increased the temporary suspension, the idle capacity quickly rebounded. Since then, driven by the rapid recovery of market demand, the size of idle capacity has once again fallen rapidly and is nearing a low level. According to Alphaliner statistics, as of the end of April, the idle capacity was 224,000 TEU, down 62.7% year-on-year, accounting for 1.0% of the total capacity, and the growth rate was 2.0 percentage points lower than the same period in 2017.