Container shipping lines should brace themselves for up to three years of significant overcapacity and falling freight rates. At least that was the consensus thinking of analysts and industry experts at the Intermodal Europe conference held in Hamburg last month.
There was also talk of a possible new orders taking shape as Maersk Line, CMA CGM and MSC finalise details of their planned P3 alliance which would only serve to further increase overcapacity in the longer term.
A CMA CGM vessel sailing from Le Havre to Port Said has lost 14 containers overboard in strong winds and large swells.
A CMA CGM vessel sailing from Le Havre has lost 14 containers overboard in strong winds and large swells.
The 5,700 teu
Although November is typically a strong month, airfreight volumes rose steadily (up on October’s 4.4 per cent growth) even after accounting for seasonal impacts, a statement reads.
The increase in air cargo freight tonne kilometres (FTKs) in November (and recent past months) is consistent with an improving business environment.
Asia Pacific was a key component in the overall result. The jump in demand among the region’s carriers, which accounts for some 40 per cent of the global market,
At a global level, based on trade data available in mid-November (including from the US, China and Brazil), container volumes can be expected to grow by 5% in 2014 compared with a year earlier.
This is consistent with the traffic reported by the major lines, thanks largely to information available in the first nine months of the year. The underlying global volume for the third quarter of 2013 was 25% above the level of five years earlier,
The marine terminals at New York/New Jersey will be closed today as a massive winter storm pounds the Northeast.
The National Weather Service has reported that 21 inches of snow has fallen just North of Boston, with parts of Upstate New York having 18 inches.