Industry analyst Hackett Associates expects volumes to increase in coming months, but freight rates to fall.
Taiwanese carrier Evergreen Line plans to launch a new Vietnam-Singapore-Malaysia service (VSM) this month triggered by increasing capacity demand.
The dedicated feeder loop will employ two A-type containerships of 1,164 TEU.
Members of the Transpacific Stabilization Agreement are recommending two $600 general rate increases and a $400 peak season surcharge.
HAVING REPORTED 3% YEAR-ON-YEAR FIRST QUARTER CARGO GROWTH FROM ASIA TO THE U.S., CONTAINER SHIPPING LINES IN THE TRANSPACIFIC STABILIZATION AGREEMENT (TSA) SAID THAT THEY FORESEE A STRONGER SECOND QUARTER AND A CONTINUING NEED TO IMPROVE REVENUE AND RESTORE SERVICE LEVELS AS THE WEST COAST CONGESTION SITUATION EASES.
Overcapacity and low fuel prices are bound to keep low dry bulk shipping freight rates for the rest of the decade or even longer, according to investment bank Goldman Sachs.
With the daily charter rates dwindling, the bank predicts that the average utilization rate of the dry bulk shipping fleet will decline to 70 percent over 2015 to 2019 from the previously reported 90 percent during the previous five years.