Tuesday, 14/02/2023, 13:43 (GMT +7)
1271
Container shipping lines divert fleets to Middle East and India routes
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Falling cargo demand in China and falling spot ocean freight rates have led to significant changes in global container fleet deployments. More than 565,000 TEUs of capacity have been withdrawn from the Asia-North America and Asia-Europe services by 2022.
The process is still ongoing with Hapag-Lloyd suspending service on the China - Germany Express service and redeploying ships on the more lucrative transatlantic service.
The container fleet operating on the transatlantic service has grown by an impressive 16.2% in 2022, which equates to an additional 162,300 TEUs. The largest capacity change was to services related to the Middle East and India (+11%), with 320,600 TEUs of fleet capacity added last year.
Indian ports currently handling an increasing number of 13,000 - 15,000 TEU vessels have been replaced by Megamax vessels on East-West routes.
The growing interest in Indian traffic is reflected in the opening of the Southeast Asia - India - US East Coast service in December, following the abandonment of the China - Vietnam - US East Coast service.
Source: Phaata.com (According to Alphaliner)
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