If the major container shipping companies are to succeed in raising the freight rates to acceptable levels on the key routes between Asia and Europe, they need to further reduce the capacity between the two continents, says an analysis by SeaIntel. The analysts have looked at the planned reductions in relation to Golden Week, and 11 weeks ahead.
According to the analysis, the shipping companies have now withdrawn enough capacity compared to Golden Week last year, but the big question is what will happen in the following weeks, says SeaIntel. The G6 Alliance (APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL, NYK Line and OOCL), among others, announced capacity reductions in the beginning of September on the routes between Asia and Europe. On the other hand, Evergreen has increased its capacity a little, which means the sector’s discipline is still struggling.
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