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Maersk Line gives grim peak season forecast

Maersk Line gives grim peak season forecast
Maersk Line is not expecting a good end of year peak season while at the same time still trying for a rate hike because current rates are "not sustainable".

The top container line used the maiden call of its first Triple E ship to Hong Kong to signal a planned attempt to raise Asia-Europe rates by $950 per teu as early as next month. Maersk South China head David Skov was quoted in local media as saying the peak season would be different this year as traditional demand for the period has not materialised with volume growth expected to stay flat over the next two months.

Complaining that the supply-demand balance has been upset again, Skov said the lines had broken from the discipline they managed to maintain last year. For their part, he said Maersk would minimise supply by capping the Triple E's loads at 14,000 teu until early next year, even though they have a maximum capacity of 18,000 teu.