According to AXS Alphaliners 140 newbuildings with a capacity of more than[ds_preview] 430,000 TEU have been cancelled since the start of the economic and financial crisis in September 2008. Of the cancellations, 54 ships were between 1,000 and 1,999 TEU, 22 were 2,000–2,999 TEU and 19 were 3,000–3,999 TEU. Owners cancelled eleven orders for ships bigger than 7,500 TEU.
Twenty-seven cancellations represent a conversion of the contract into other ships types like bulkers or tankers. Alphaliners stated that the balance were outright cancellations or orders delayed to the extent that they are believed to have been dropped, especially in cases where shipyards faced difficulties in meeting contractual deadlines allowing owners to get out of their commitments. Discussions were going on with the result of further cancellations. Some agreements may not have been disclosed and not listed are ships already under construction or so far undelivered newbuildings owing to financial problems of their contractors. The latter ones are likely to enter the market as resales or upon reaching financial settlements.
