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Alphaliner: Rate war is real now, and it’ll get worse

CARRIERS: There are no signs from Maersk Line and other market leaders that they intend to reduce their capacity on the routes between Asia and Europe. Their only hope now is that demand begins to increase, says Alphaliner.

The major carriers failed in their attempts to maintain the spot rate on Asia-Europe at a profitable level by not pulling out sufficient capacity to adjust it to fit the demand. This means that the price war, which cost the carriers huge amounts of money back in 2011, is now back in full force, and the situation could become worse in coming months. The carriers’ only hope now hinges on whether demand could increase in order to avoid further rate drops, according to data from Alphaliner.

In total, carriers will insert 20 new container ships of 8,500 to 16,000 teu between Europe and the Far East in the second quarter, in addition to the seven ships that were inserted in March alone. Tha rapid and dramatic capacity increase has reignited the price war, and it has made the rate level plummet by USD 600 per teu since the beginning of the year. Spot rates from China to Europe are currently at USD 700-800 per teu, compared to USD 1,300 – 1,400 in the beginning of 2013.

“Carriers have limited options to keep capacity in check, with the incessant deliveries of new tonnage hampering their ability to make any meaningful capacity cuts. The timing of the deliveries was intended to take advantage of the anticipated summer peak season, but weak cargo volumes have kept utilization levels at only 80% on average in April with a very slow pick up in demand this year,” writes Alphaliner in its newsletter on Tuesday.

Maersk Line’s inserting the first of its Triple-E ships in July – the first of a series 20 Triple-E ships of 18,270 teu, the world’s largest – will make it even more difficult to reduce the capacity:

“Although Maersk has declared that it will neutralize the additional capacity brought by the introduction of the Triple-E vessels, it has not indicated any capacity removal so far,” writes Alphaliner, pointing out that Maersk Line hasn’t announced any changes for May, while the carrier “has issued warnings stating that it intends to protect its market shares.”

The only slight capacity adjustment in the next two months will come from from the cooperation between Evergreen, CSCL, and Zim. The consequence of their 9,000 teu per week reduction, starting mid June, will at the same time be countered by various service upgrades at approximately 16,500 teu per week.

via: www.shippingwatch.com

Qatar, August 15, 2023QTerminals Group (51% Qatar Ports Management Company Q.C.S.C (Mwani Qatar) and 49% Qatar Navigation Q.P.S.C (Milaha)) has acquired a majority stake in “Kramer Holding B.V.”, a provider of integrated logistics and container services located in the Port of Rotterdam in the Netherlands.

The acquisition of Kramer Group represents an important milestone in the expansion of QTerminals, as the Port of Rotterdam is the largest port in Europe and is a significant addition to QTerminals Group’s record of success in diversifying its operations. In addition, this acquisition further reinforces QTerminals Group’s commitment to contribute towards Qatar National Vision 2030 which aims for the diversification of the national economy and foreign investments.

The CEO of QTerminals, Mr. Neville Bissett, stated: “Kramer Group is an important strategic step for QTerminals as we will expand our presence into Europe’s largest port. Kramer Group complements QTerminals and adds existing business, a robust value-creating service offering and European network to QTerminals portfolio.
Kramer Group has both core and strategic importance to the Port of Rotterdam, as it supplements the Port’s activities whilst having direct access to the deep-sea terminals of the Port of Rotterdam.
The acquisition of the Kramer Group by QTerminals allows its entry and presence in the largest port in Europe which makes QTerminals Group’s position stronger in relation to future opportunities in Europe and other developed global markets.
The presence of QTerminals in the Port of Rotterdam is strategic and reputable for QTerminals Group in particular and for the State of Qatar in general as QTerminals Group’s profile will become known in the largest European port..

“I’m very excited about this significant milestone in the journey of our family business which started 60 years ago by my father. Today, we mark the beginning of a new chapter joining forces with QTerminals. I believe that their expertise, resources, and industry insights will enable us to expand our horizons and explore untapped opportunities. Whilst maintaining our culture, organization, core team and our commitment to delivering the superior quality services to our clients in almost all aspects of container logistics”, said André Kramer, CEO of the Kramer Group.
By acquiring Kramer Group, QTerminals will continue to develop its world leading technical and operational know-how to enhance and optimize its potential as one of the leading providers of integrated container logistics services in Europe.

Kramer Group’s development and growth in recent years are indicators of good corporate management and governance of the organization. “Following our assessment of the current organization, we are excited to retain and welcome Kramer’s key management personnel and employees into QTerminals, including Mr André Kramer, who will continue as Chief Executive Officer” said Neville Bissett.

About Kramer Group

The Kramer Group is an integrated container handling and storage, terminal, container development and logistics services provider, located in the Port of Rotterdam, and is the only independent terminal in the Maasvlakte area, and one of the few multi-user depot terminals in the port.

The Company operates in six different locations with network access to the principal terminals, of which five are at the Maasvlakte and one at the Eem-/Waalhaven, and has tri-modal transport options via rail, water and road.