The super-slow steaming (SSS) measures initiated by shipping lines in the second-half of last year have absorbed 2% of fleet capacity, according analyst AXS Alphaliner.

The Paris-based firm said SSS ?C slowing vessel to speeds of 14 knots on certain services ?C had been applied to almost 20 long-haul loops since November.

"With the fuel price now reaching US$500 per tonne, the trend is expected to continue," it said.

"By end January 2010, SSS will have absorbed 230,000teu of vessel capacity and the figure will rise to over 250,000teu in February, as more carriers slow down loops to save on fuel costs."

"This figure adds to the estimated 45,000teu of capacity that was already kept busy through SSS since 2008, bringing the figure close to 300,000teu.

"These SSS initiatives keep in activity 47 vessels of between 3,000 and 13,000teu, which otherwise would have been idle. The capacity kept active through SSS corresponds to 2.3% of the cellular fleet."

Alphaliner estimated that, based on current bunker prices, SSS generates 5-7% savings on total operating costs on long haul loops, including the costs of the extra ship deployed and of the additional containers required due to the longer transit times.