Fiscal Year 2012

A. WORLDWIDE

The world’s container trade expanded by almost 3 percent in fiscal year 2012 compared to an expansion of approximately 7 percent in 2011. As the fiscal year came to a close, 255 containerships lay idle, representing 3.4 percent of the total fleet capacity measured in TEUs (twenty-foot equivalent container units). In contrast, 156 ships representing 2.2 percent of the containership fleet capacity lay idle at the end of fiscal year 2011.

 

Container volumes in the U.S. liner trades in fiscal year 2012 expanded 2.4 percent to 29.6 million TEUs, compared to 28.9 million last year. The U.S. share of the world’s container trades was 18 percent. U.S. container imports continued to increase, expanding by 3 percent to 17.6 million TEUs, compared to 17.0 million in 2011. This was still well below the record of 19.4 million TEUs reached in fiscal year 2007. U.S. container exports also expanded slightly, increasing by less than 1 percent to 12.0 million TEUs. As a result, the U.S. container imbalance worsened; for every 100 loaded containers exported from the U.S. 147 were imported, compared to 143 imported in fiscal year 2011.

 

On a worldwide basis, the containership fleet continued to expand, but that expansion was tempered by an increase in the number of vessels being idled or scrapped. This fiscal year, the containership fleet’s nominal capacity grew at a rate similar to its growth rate in fiscal year 2011, just under 7 percent. At the end of September 2012, 4,950 containerships, with a fleet capacity of 16.2 million TEUs, were available to serve the world’s container trades. Net of vessels scrapped, only 38 containerships were added to the world fleet, a notable drop from last year’s 81. As of September 30, 2012, there were orders worldwide for 514 new containerships with an aggregate capacity of 3.6 million TEUs, which is equivalent to 22 percent of the existing fleet capacity.

 

The world’s container shipping industry remained almost as concentrated during fiscal year 2012 as it was in prior years. At the end of fiscal year 2012, the top five container operators controlled 45 percent of the world’s containership fleet capacity, the top ten controlled nearly 63 percent, and the top twenty controlled almost 84 percent compared to 46 percent, 66 percent, and 88 percent, respectively, during the prior year. The carriers comprising the top five operators changed only slightly with Hapag-Lloyd (ranked fifth in fiscal year 2011) being surpassed by Evergreen (ranked sixth in fiscal year 2011).