ShippingWatch

Media: Container carriers will ship empty cargo – during peak season

The Chinese container carrier Cosco Container Lines, as well as Taiwanese carrier Yang Ming and South Korean carrier Hanjin, will be sailing with empty cargos in late July to mid-August, as a consequence of their capacity reductions, reports several media.

Photo: Hanjin

In quite an unusual development, several major container carriers are now planning to sail with half-empty cargo loads or even cancel departures between Europe and Asia, in the middle of peak season which under normal circumstances would be the busiest time of the year for the container carriers.

The Chinese container carrier Cosco Container Lines, as well as Taiwanese carrier Yang Ming and South Korean carrier Hanjin, will be sailing with empty cargos from late July to mid-August, as a consequence of their capacity reductions, reports the Danish media Aktiefokus and other media. The general reports from last week reveal that the shipping industry has regained its faith that the rate level can be maintained. But the latest numbers from among others Shanghai Containerized Freight Index, SCFI, shows a drop of 2.6 percent for container rates on Asia-Europe.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Related articles

Latest news

See all jobs