Quite the opposite container ship sale and purchase market has shrunk by 50 percent in 2022 as per alphaliner weekly newsletter from last week.
For Asia – Europe run : 27 percent of sailings were axed in first seven weeks of 2023 itself due to lack of cargo demand. There were 69 ship’s that counted that started a round voyage from Asia to Europe. Under a normal schedule, the number of sailings would be 84.
Spot freight rates are still slowly decreasing even after a capacity reductions, but Asia to med rates remain significantly higher than Asia to North Europe rates.
Also, stocks of major shipping companies have collapsed between 20 to 70 percent in 2022. You can check the stock prices of ZIM, wan hai, evergreen, Cosco, Yang Ming, sitc, hapag Lloyd, RCL, Maersk, Matson, Hmm, OOIL because of fears over future earnings.
However, i am talking about the global trade of container ships here. GE Shipping is not a container carrier so the above is not much relevant to it.
| Subscribe To Our Free Newsletter |
