Posted on 03/29/2010 3:24:11 PM PDT by blam
Asia-U.S. Shipper Readies Huge Fleet Expansion After Reporting 37% Higher Volumes
Vincent Fernando, CFA
Mar. 29, 2010, 10:28 AM
Neptune Orient Lines, owner of the formerly U.S.-owned APL container shipping company, just reported a sharp 37% jump in container trade volume for February, crediting strength in both Intra-Asia and U.S. - Asia (Transpacific) demand. (Note that higher volume can come from APL taking share, total trade growth will be lower.) The charts below are from NOL's release.
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(Excerpt) Read more at businessinsider.com ...
Yes, rates are going up as shippers claw-back their losses over the last 18 months, fleet expansion seems a bit much.
Isn’t there hundreds of thousands TEU capacity sitting idle in Singapore harbor at the moment
that was my first thought too.
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