TOTAL container volumes shipped from northern Europe to North America increased four per cent to 695,000 TEU in the third quarter compared to the previous quarter with only 231,000 TEU moved in September.
N Europe-transatlantic box volume rises 4pc, capacity efficiently managed TOTAL container volumes shipped from northern Europe to North America increased four per cent to 695,000 TEU in the third quarter compared to the previous quarter with only 231,000 TEU moved in September.
From January to September box volume rose 0.2 per cent, far less than the 4.7 per cent posted on the Asia to North America tradelane, suggesting that US importers were more interested in 'consumer' goods than industrial traffic, according to Drewry Maritime Research.
The shipping lines' response to the weak cargo growth was to merely continue maintaining vessel schedules, with the total capacity of all vessels sailing from Northern Europe to North America declining one per cent to 252,000 TEU between August and September.
Negotiations underway regarding the launch of the P3 vessel-sharing Alliance's services in the second quarter of 2014 could have necessitated the inactivity.
Hapag-Lloyd, NYK, OOCL, HMM, APL and MOL are believed to still be discussing the extension of the G6 Alliance's scope to include the transatlantic, in addition to the Asia-Europe and Asia-ECNA tradelanes, with the main objective to achieve greater economies of scale.
The average utilisation of all vessels sailing from northern Europe to North America grew from 88 per cent in August to 91 per cent in September.
Container cargo from North America to northern Europe remained subdued in September, reaching just 165,000 TEU. This brought the total for the third quarter up to 506,000 TEU, a decrease of five per cent compared to the previous quarter. However, the year to date total was up three per cent compared to January-September 2012 at 1.6 million TEU.
Average eastbound vessel utilisation fell from 77 per cent in August to 74 per cent in September, although, spot freight rates continued to increase.
Said Drewry: "Ocean carriers should cancel more sailings between November and February to better match supply and demand over the winter season. On the basis that the P3 Alliance will obtain regulatory approval by 2Q14, other leading lines will alter their services in a defensive action."