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SeaIntel projects massive overcapacity

The container market is behaving significantly different than usual this year in relation to China's Golden Week. There are far fewer blank sailings than usual, and rates have plunged since this summer.

Photo: PR-foto/Hapag-Lloyd

The container market has not developed as it historically does after the summer holidays, and according to SeaIntel, there are problems in store in the form of massive overcapacity, in the fourth quarter this year, unless the carriers do something.

Some of the challenges are already known. Especially the fact that rates have declined almost non-stop since late July, which in and of itself seems remarkable at a time when only three container alliances control the vast majority of the market, and up to 90 percent on some services. Meanwhile, container transport is registering solid growth.

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