Analysis Report on Domestic Coastal Inter-Provincial Freight Ship Capacity in the First Half of 2024

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Time of issue：

2024-11-26 16:35

1. Bulk Carrier Capacity Situation

As of June 30, 2024, there are a total of 2,513 coastal interprovincial bulk carriers (over 100,000 tons, excluding heavy lift vessels, multipurpose vessels, and other ordinary cargo ships) with a total deadweight tonnage of 83.064 million tons (some vessels had their deadweight tonnage changed after inspection, with a total increase of 17,000 tons), a decrease of 25 vessels and 292,000 tons compared to the end of 2023, representing a 0.3% decrease in tonnage. In the first half of 2024, 77 new vessels with a capacity of 2.462 million tons were added; there were no mandatory scrapped vessels; companies adjusted their capacity, with a total of 102 vessels and 2.771 million tons exiting the market.

The average age of coastal interprovincial bulk carriers is 10.8 years, an increase of 0.2 years compared to the end of 2023. Among them, there are 283 old vessels (over 18 years old) and 35 special inspection vessels (over 28 years old), accounting for 11.3% and 1.4% of the total number, respectively. Compared to the end of 2023, the proportion of old vessels and special inspection vessels increased by 0.3 and 0.1 percentage points, respectively.

2. Container Ship Capacity Situation

As of June 30, 2024, there are a total of 435 coastal interprovincial container ships (over 700 TEU, excluding multipurpose vessels) with a total capacity of 1.017 million TEU, an increase of 25 vessels and an increase of 44,000 TEU in capacity compared to the end of 2023, representing a 4.5% increase in capacity. In the first half of 2024, 40 new vessels with a capacity of 77,000 TEU were added; there were no mandatory scrapped vessels; a total of 15 container ships (with a capacity of 33,000 TEU) exited the market early.

The average age of coastal interprovincial container ships is 7.9 years, a decrease of 0.4 years compared to the end of 2023. Among them, there are 37 old vessels (over 20 years old) and 1 special inspection vessel (over 29 years old), accounting for 8.5% and 0.2% of the total number, respectively. Compared to the end of 2023, the proportion of old vessels remained unchanged, while the proportion of special inspection vessels decreased by 0.3 percentage points.

3. Liquid Cargo Hazardous Goods Ship Capacity Situation

(1) Oil Tankers.

As of June 30, 2024, there are a total of 1,114 coastal interprovincial oil tankers (including crude oil tankers and product oil tankers, excluding oil and chemical dual-purpose vessels) with a total deadweight tonnage of 11.613 million tons (some vessels had their deadweight tonnage changed after inspection, with a total decrease of 3,000 tons), a decrease of 38 vessels and 75,000 tons compared to the end of 2023, representing a 0.6% decrease in tonnage. In the first half of 2024, 22 new vessels with a capacity of 200,000 tons were added; a total of 60 vessels with a capacity of 272,000 tons exited the market early.

The average age of coastal interprovincial oil tankers is 11.2 years, an increase of 0.1 years compared to the end of 2023. Among them, there are 573 old vessels (over 12 years old) and 3 vessels that have reached special inspection age (over 26 years old), accounting for 51.4% and 0.3% of the total number, respectively. The number of old vessels increased by 27 compared to the end of 2023, a growth of 4.9%, while the number of special inspection vessels remained the same as at the end of 2023.

(2) Chemical Tankers.

As of June 30, 2024, there are a total of 289 coastal interprovincial chemical tankers (including oil and chemical dual-purpose vessels) with a total deadweight tonnage of 1.546 million tons, a decrease of 3 vessels, but an increase of 54,000 tons in tonnage, representing a 3.6% increase in tonnage. In the first half of 2024, 16 new vessels with a capacity of 96,000 tons were added; a total of 19 vessels with a capacity of 42,000 tons exited the market early.

The average age of coastal interprovincial chemical tankers is 10.0 years, a decrease of 0.4 years compared to the end of 2023. Among them, there are 158 old vessels (over 12 years old), accounting for 54.7% of the total number. There are no vessels that have reached special inspection age (over 26 years old). The number of old vessels increased by 10 compared to the end of 2023, a growth of 6.8%, while the number of special inspection vessels decreased by 1 compared to the end of 2023.

(3) Liquefied Gas Carriers.

As of June 30, 2024, there are a total of 87 coastal interprovincial liquefied gas carriers with a total deadweight tonnage of 322,000 tons (some vessels had their deadweight tonnage changed after inspection, with a total decrease of 1,000 tons), an increase of 2 vessels and 6,000 tons in tonnage compared to the end of 2023, representing a 1.8% increase in tonnage. In the first half of 2024, 2 new vessels with a capacity of 7,000 tons were added, with no mandatory scrapped vessels or vessels exiting the market early.

The average age of coastal interprovincial liquefied gas carriers is 13.2 years, an increase of 0.2 years compared to the end of 2023. Among them, there are 57 old vessels (over 12 years old) and 6 vessels that have reached special inspection age (over 26 years old), accounting for 65.5% and 6.9% of the total number, respectively. The number of old vessels increased by 8 compared to the end of 2023, a growth of 16.3%, while the number of special inspection vessels remained the same as at the end of 2023.

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