Price war forces shipowners to use more slow steaming
Shipping companies will resort more to slow steaming than they have in the past, giving customers "the service they pay for," says Drewry. Routes with redundant tonnage are in decline.
BY OLE ANDERSEN
The price war on rates from Asia to Europe and between Asia and the United States, as well as the delivery of new, massive container ships during 2013 will force the shipping companies to further increase the extent of slow steaming, says analysis agency Drewry in its weekly newsletter, Container Insight Weekly.
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