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Maersk cancels blanked sailings on the transpacific

Maersk cancels blanked sailings on the transpacific

Record spot prices seen on the transpacific to the west coast in recent weeks have sparked concern in China , South Korea and the US, nudging $4,000 per container.

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With both state-run Cosco and its affiliate OOCL, and Maersk agreeing to the Chinese government steps, Beijing has stepped in over the past week demanding carriers add more room on the trade lane and ease price increases. Also this week the Federal Maritime Commission (FMC) met in Washington to take a look at the situation.

The Maersk customer advisory forecast that the current strong markets will continue in the lead up to the Chinese New Year until November, and probably January.

It is expected that other carriers will follow Maersk 's lead. In yesterday's advisory, the Danish company added that it was reactivating idle power, sourcing more leased containers and expediting empty boxes back to Asia to cope with the rush.

On the tradelane, shipowning organization BIMCO noted this week, the records tumbling on the transpacific have provided the largest record gap between short- and long-term contract freight rates.

“The stars are now aligned for carriers to achieve higher long term contract rates,” BIMCO stated.

Maritime Business World 

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