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Bigger Asia-Europe box ships stoke fears of low freight rates to come
来源：shippingazette.com 编辑：编辑部 发布：2017/11/09 09:55:36
THERE are concerns that the ongoing trend of operating ever-larger containerships on the Asia-Europe trades to reduce transport costs will keep the lid on freight rate growth.
"Large vessels will provide substantial cost benefits," MOL president Junichiro Ikeda said at a naming ceremony held last month for the company's fifth 20,000-TEU vessel, the MOL Truth.
Improved engine performance and more cargo per trip will lower costs for the Japanese shipping line. Fuel efficiency per container is expected to rise by 30 per cent compared with MOL's 14,000-TEU containerships, reported Tokyo's Nikkei Asian Review.
However, detrimental effects are appearing when viewed on an industry-wide basis. The 11 commissioned 20,000-TEU ships as of October are expected to rise to 70 by 2020, according to the Japan Maritime Centre, and are all likely to be deployed on the Asia to Europe trade. In September, France's CMA CGM confirmed an order for a 22,000-TEUer.
The supply-demand balance is collapsing as shippers compete on vessel size. Global capacity surged 31 per cent in the five years through 2016, shipper Nippon Yusen says, while cargo volume increased just 17 per cent.
The capacity glut combined with a slowdown in the movement of goods, pushed down spot rates for Asia-Europe freight in March to US$200 per TEU, one-third of the price from the same period a year earlier.
"Large vessels will provide substantial cost benefits," MOL president Junichiro Ikeda said at a naming ceremony held last month for the company's fifth 20,000-TEU vessel, the MOL Truth.
Improved engine performance and more cargo per trip will lower costs for the Japanese shipping line. Fuel efficiency per container is expected to rise by 30 per cent compared with MOL's 14,000-TEU containerships, reported Tokyo's Nikkei Asian Review.
However, detrimental effects are appearing when viewed on an industry-wide basis. The 11 commissioned 20,000-TEU ships as of October are expected to rise to 70 by 2020, according to the Japan Maritime Centre, and are all likely to be deployed on the Asia to Europe trade. In September, France's CMA CGM confirmed an order for a 22,000-TEUer.
The supply-demand balance is collapsing as shippers compete on vessel size. Global capacity surged 31 per cent in the five years through 2016, shipper Nippon Yusen says, while cargo volume increased just 17 per cent.
The capacity glut combined with a slowdown in the movement of goods, pushed down spot rates for Asia-Europe freight in March to US$200 per TEU, one-third of the price from the same period a year earlier.