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No. of Vessels 160 140 120 100 80 60 40 20 0 ALPHALINER Weekly Newsletter 2009-Week 17 axs-alphaliner.com – the worldwide reference in liner shipping Carriers’ losses could reach $4Bn in 1Q Carriers with 1Q09 profit guidance/announcements CSAV -$265M NOL -$240M CSCL -$177M Idle Fleet Breakdown by Size Range as at 27 Apr 2009 10 55 89 114 140 Size Range in teu 98 Note, the count for the 500-1,000 teu range includes only ships which are usually deployed on container services and excludes the spot multipurpose units usually deployed on breakbulk, project cargo or tramp trades as they rarely interfere on container trades. The March volumes at the top 5 ports are however 16% lower than the corresponding period in 2008, reflecting the challenging conditions that the industry is facing. Overall first quarter volumes fell 19% against the previous year. Apart from the top 5 ports, all main ports are affected by the volume slowdown. In Europe, Rotterdam had reported a 16% decline in container volumes to 2.3 Mteu for the first quarter and the port forecasts an overall decline in throughput of 6%-10% for 2009. It says problems in container shipping continue to dominate for the time being and the recovery will begin “a little later than anticipated”. Antwerp also reported a 16% fall in first quarter volumes to 1.7 Mteu. Over in the US East Coast, the port of New York/New Jersey saw first quarter volumes drop 17% to 0.82 Mteu. Although there were some successes on the part of carriers in finally recovering some of the volumes and rate declines over the March-April period, the battle to regain profitability remains gruelling. Within the last two weeks, a number of carriers have issued profit warnings, cautioning that the first quarter earnings would be negative. Collectively, the Top 20 carriers may be facing total losses that could exceed $4 Bn for the first quarter alone – the largest ever quarterly loss in the industry’s history. Idle fleet stays high at 10.6% The idle containership fleet increased marginally over the last fortnight, according to Alphaliner figures. As at 27 April, a total of 506 ships for 1.34 Mteu was idle against 486 ships for 1.31 Mteu two weeks ago. The idle fleet now represents 10.6% of the cellular fleet against 10.4% a fortnight ago. The non-operating owners' share of the idle fleet continues to increase as carriers continue to redeliver ships at expiry of charters. The fleet idle for non-operating owners account has reached 274 units representing 425,000 teu (31.8% of the total idle fleet). TEU Millions Idle fleet evolution Dec 2008-Apr 2009 1.60 1.40 1.20 1.00 0.80 0.60 0.40 0.20 0.00 Non Operating Owner TEU Carrier TEU ©Alphaliner P a g e | 2 © Copyright Alphaliner 1999-2009 3.4% As % of total fleet 7.2%
ALPHALINER Weekly Newsletter 2009-Week 17 axs-alphaliner.com – the worldwide reference in liner shipping China Top 10 Container Ports Volumes Handled Jan-Mar 2009 Chinese ports 1Q liftings down by 12.8% The newly released China ports statistics saw first quarter container handling volume in the country drop by 12.8% to 25.5 Mteu compared to a year ago. Amongst the main ports, only Yingkou, Qingdao and Tianjin saw an increase in volumes. The largest drops were seen in the Pearl River Delta (PRD) region of South China, with the Shenzhen ports dropping 21% while the emerging Guangzhou port (primarily Nansha) saw volumes drop by 24%. South China bore the brunt of the decline as it is most heavily exposed to the slump in the US and Europe, with export-oriented industries mainly concentrated in the area. Together with neighbouring Hong Kong port, the 3 main ports in the PRD saw total volumes drop by 22% to 10.6 Mteu. Rank Port Mar 2009 Mteu y-o-y change % Jan-Mar 2009 Mteu y-o-y change % 1 Shanghai 2.18 -8.8% 5.61 -15.1% 2 Shenzhen 1.34 -21.8% 3.88 -21.2% 3 Qingdao 0.86 2.6% 2.50 2.3% 4 Ningbo-Zhoushan 0.84 -3.7% 2.26 -10.2% 5 Guangzhou 0.85 -12.9% 2.15 -24.3% 6 Tianjin 0.73 5.5% 1.93 1.4% 7 Xiamen 0.36 -7.2% 1.03 -8.4% 8 Dalian 0.34 -4.5% 0.99 -2.0% 9 Lianyungang 0.22 -4.3% 0.57 -9.8% 10 Yingkou 0.20 14.7% 0.51 9.0% Total Top 10 Ports 7.91 -8.2% 21.43 -12.4% Coastal ports 8.90 -6.6% 23.78 -12.3% River ports 0.59 -19.2% 1.70 -19.4% Total All Ports excl Hkg 9.50 -7.5% 25.48 -12.8% For Comparison Singapore 2.19 -14.6% 6.02 -17.9% Hong Kong 1.63 -18.9% 4.55 -20.9% The only bright spot has been increased cross-Taiwan Strait container volumes which has increased by 4.6 times in Kaohsiung since the launch of direct shipping links between Taiwan and China last December. The volume of cross-strait containers handled by the port increased from 16,000 teu in December to 74,000 teu in March. Cross-strait voyages that included a stop at Kaohsiung rose from 38 in December 2008, to 118 in March. Although the direct cross-strait shipping links have cut transportation costs by 15% to 30%, it has not lead to a significant increase in volumes as ships which had to take detours through third country ports in the past can now trade directly. Most of these used to transit at Hong Kong but can now bypass the port. P a g e | 3 © Copyright Alphaliner 1999-2009
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