OCEAN carriers are slowing down their ships and deploying extra tonnage on more robust routes as they aim to take surplus capacity, reports London's Loadstar.
Many look at transatlantic tradelane as a good option. Maersk declared it would be adding three extra ships during the first quarter on the North Europe and Mediterranean to US east coast and Gulf coast loops it operates together with its vessel-sharing partner MSC within their 2M alliance agreement.
Maersk stated during the first quarter it would add one ship to the 2M North Europe to US east coast and Gulf coast TA1/NEUATL1 and TA3/NEUATL3 loops, and one to the Mediterranean to US east and Gulf coast TA6/MSC Pearl string.
"Slowing global demand has left us with extra capacity that we can use to improve the reliability of our services," said Maersk.
"With these changes, we can reduce schedule gaps and slidings, boost weekly coverage and allow for more robust supply chain planning."
And the company was keen to emphasise the reduction in greenhouse gas emissions from the slower service speeds of the ships.
Maersk stated it would "help us meet our goal of achieving net zero greenhouse gas emissions across our business by 2040".
Nevertheless, extra capacity on the route will add to the downward pressure on transatlantic rates.
In June last year, spot rates on the route were close to US$10,000 per FEU, with rates boosted by a combination of a capacity crunch, equipment shortages, and port congestion in both northern Europe and the US.
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