Port of Hamburg has waited almost 15 years for expansion
A planned expansion of the Port of Hamburg, which would give more space to ultra large container vessels, has been stagnating for years. The expansion needs to come soon, Hapag-Lloyd and the port tell ShippingWatch. But environmental organizations resist the plans.
BY NIKLAS KRIGSLUND
For almost 15 years, the Port of Hamburg has waited for an expansion of the port canal, which will better accommodate giant container vessels sailing to and from China.
In 13 years, DSV has expanded vigorously in Latin America, and last year the region represented the highest growth rates in the logistics firm’s air and sea business. Large acquisitions have given access to new markets, says regional head in an interview with ShippingWatch.
Diving spot rates on container freight mean that more shippers are expected to want to leave the more costly long contracts, according to analysts. This may hit carriers such as Maersk, where seven out of ten are on contract. Futures indicate rate decline as well.
After an extreme year in both the container and dry bulk segments, which have seen several ship sales, trading is now stagnating somewhat. ”There are fewer buyers, but optimism isn’t gone,” Maersk Broker executive tells ShippingWatch.