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Zim and CSCL upgrade Asia-Europe service

Zim Line and China Shipping Container Lines have increased their weekly capacity and the number of port calls on one of their joint Asia-Europe services.

The two carriers announced that they have added Dalian, Qingdao, Port Klang and an additional call at Shanghai to their AEX1 service.

They have also increased the number of vessels operating on the service from nine to 10 and upgraded from ships with a capacity of 8,500 teu-10,000 teu to ships of 9,580 teu-10,000 teu.

The sailing time added through the new port calls does not counteract the additional vessel capacity to maintain the same weekly number of slots available, according to Lloyd’s List Intelligence.

As a result of the upgrade, weekly capacity on the service will increase by around 12% from just over 8,600 teu to more than 9,700 teu per week.

Following the adjustments Zim will deploy three 10,000 teu vessels on the service while CSCL will operate the remaining vessels.

Analyst Dynamar said the AEX1 service adjustments follow the carriers’ decision to cut their AEX2 service.

According to Lloyd’s List Intelligence, carriers have now reduced the amount of overall capacity they deploy on the Asia-Europe trade by 1.9% since the last Friday in June.

This capacity reduction and carriers’ 1 August general rate increases probably explain this week’s increase in spot rates on the Asia-north Europe trade.

via: www.lloydsloadinglist.com