Ocean freight carriers are continuing to add new ships to the Asia/European market, with the 2M Alliance reportedly now introducing nine vessels to their schedules in June.
Although demand remains relatively weak, new capacity has been arriving through ULCVs (Ultra Large Container Vessels) in spades during recent times.
MSC, THE Alliance and the Ocean Alliance, have all introduced a host of new build 24,000 teu vessels in the past few weeks, with the accolade of the world’s largest container ship changing hands three times already this year.
The arrival of additional volume points towards over capacity from Asia, but we may be about to see a slow down of vessels. According to a report in the Loadstar, Maersk have said “The added vessels will allow us to reduce speeds, providing a needed buffer to absorb schedule challenges, improve reliability and decrease the risk of void sailings”.
The proposed slowing down of vessels is believed to add an average six days to round trip voyages, or three days to a single leg journey from Asia to Northern Europe.
However, the reduction in emissions will significantly help steamship lines meet the IMO carbon intensity measures which came into force on 1 November 2022.
The Westbound team are monitoring developments closely.
If you have any questions regarding the above, then Westbound are here to help. So, please do not hesitate to contact us.
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