At the recent Intermodal Europe 2022 event, Alphaliner – part of AXSMarine – a SaaS shipping software and data company for Dry Cargo, Tankers, and Containers – reaffirmed its global position.
The event is a world-class concurrent exhibition for companies associated with the intermodal container industry, including the shipping and logistics sectors.
Intermodal Europe 2022 event placed after 3 years in Amsterdam
At the recent Intermodal Europe 2022 event, Alphaliner – part of AXSMarine – a SaaS shipping software and data company for Dry Cargo, Tankers, and Containers – reaffirmed its global position. The event is a world-class concurrent exhibition for companies associated with the intermodal container industry, including the shipping and logistics sectors.
Alphaliner analyst and editor Stefan Verberckmoes talked about the disruptions in trading during the COVID pandemic along with the following aspects of normalcy.
The ocean carriers are still posting their record profits in Q3, which is in stark contrast to the deteriorating Asia-Europe trade outlook as ocean freight rates continue to fall and further 69 Megamax ships are still under construction and have not been used.
“As a result, spot sea freight rates have skyrocketed,” says Stefan. This development is unprecedented in the shipping industry but is common in bulk markets where the supply-demand/cargo ratio can cause significant changes in freight rates.”
For example, spot ocean freight rates between Shanghai and Northern Europe fell from $15,594/feu at the beginning of January 2022 to $3,526/feu last Friday, Nov. ( fall down 77%).
Containership Orderbook by Fuel Type in 4 years (Source: AXSNews)
More aggressive capacity management is arguably the most effective solution to prevent further slippage. In the future, the situation of excess capacity returning in shipping will continue. According to Alphaliner data, a new capacity of 7.5 Mteu slots will be made available.
“This accounts for about 20% of the current mobile container fleet,” Stefan asserts.
Reported by Lucy 2022-11-29