Orient Overseas’ Service Trim Says More About Competition Than Demand — Panjiva


Orient Overseas’ Service Trim Says More About Competition Than Demand

Corp - Shipping 608 Mode - Containerized 1005 Mode - Seaborne 1273 U.S. 3297

Orient Overseas has withdrawn 10 Trans-Pacific container shipping sailings in March as a result of “expected low demand”. That comes after a slump in shipping rates as well as the normal seasonal low for Trans-Pacific traffic – volumes in March are normally 12.9% below the monthly average over a year. There has however been a slowdown in demand from exporters. Volume growth on Asia-Pacific to U.S.-West Coast port routes climbed 17.7% year over year in December but by just 0.6% in January and could have fallen by as much as 7.8% in February. ​​​​​​​Orient Overseas meanwhile sa...

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