While the spotlight has recently fallen upon intermediate and ultra large container vessels, a sustained period of good earnings has given feeders and sub Panamax units a boost in the last six months. Indeed some have predicted this will last into 2016 due to exigencies of trade and the rapid pace of change at this level in the box business. So successful is this sector that many owners are cascading vessels into new trades, especially in Asia. Freight and time charter rates have hit levels not seen for a few years. Forward planning by owners is changing dramatically. Change is occurring as a result of the scrapping of unsuitable vessels, new demand for wide beam feeders as high as 5,000 teu, and a plethora of bank controlled tonnage from distressed fleets available at bargain prices. The world's largest operator, Maersk Line, is leading the way with a big investment programme in newbuilding, second-hand and charter acquisitions and an emphasis on economy of scale and wide beam vessels. Industry statistics show that 233 vessels of up to 5,000 teu are on order, 36 of which have been added in the last six months. This has given a boost to smaller yards which had been short of work.
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