More container vessel space than meets the eye, say analysts

CLAIMS by ocean carriers that there is barely enough capacity to meet shipper demand are being disputed by maritime analysts at AXS Marine, a Paris-based think tank, which says capacity has been "understated."

These views are being reported by Logistics Management magazine, of Newton Massachusetts, which quoted the AXS analysts saying: "Times when carriers were proud of new orders for big ships are over. This renders difficult the reliable assessment of the future supply, especially for years as far away as 2010 or 2011."

The analyst added that by keeping "a veil of secrecy on orders" carriers keep forecast figures dense, thereby creating problems for shippers devising long-term distribution strategies.

But London-based Drewry Shipping Consultants are telling cold storage shippers that reefer space may continue to be expensive. In a recent report, Drewry analysts forecast a decline in fleet size of specialised vessels.

The specialised reefer fleet above 100,000 cubic feet has declined in number from 878 vessels in 1999 to just 786 vessels in 2007," said Drewry.