Containership Consortia Set for Further Expansion: Analyst
The formation of 2M is only the conclusion of the latest round of mega-alliance negotiations. Ocean carriers are clearly not yet done with mega-alliance expansion following China’s rejection of P3. Maersk and MSC’s subsequent 2M agreement is only the latest. Evergreen and the CKYH alliance are still talking to the US’ Federal Maritime Commission (FMC) about extending the scope of their operating agreement between Asia and Europe to include the US, and CMA CGM has yet to clarify who its new partners will be. New partnerships are required as no one has yet come up with a better alternative to reduce costs and improve service frequency at the same time, short of take-overs and mergers.
Report Says Trade Slows for Container Shipping Businesses
Maritime consultants Drewry Shipping Consultants has launched its ‘Annual Container Market Review and Forecast 2008/09.’ Now in its ninth year, Drewry’s Review is the liner industry’s leading commentary and forecasting tool for both global and individual trade lane supply, demand and pricing analysis. What is clear from Drewry’s Report it that the strong growth in the container shipping sector is now going into reverse as the credit crunch impacts all the major economies. Using Stock Market Indices as a barometer of economic performance and sentiment, it can be seen that every country/region of critical importance to growth rates of container traffic volumes has suffered a major loss of confidence since the beginning of the year.
