28 September 2014

[280914.EN.SEA] Zim Keeps A-E loops Despite Plans To Withdraw From Trade in April

ISRAELI container shipping line Zim is continuing to offer Far East-North Europe services, albeit a reduced number of sailings, despite its announced "withdrawal" from the trade in April, and as spot rates fall.

Following the closure in May of the weekly Far East-Europe service, which it jointly operated with CSCL (AEX-1), it is still offering monthly ad hoc sailings.

Zim operates these sailings with ships ranging in size from 4,600 to 10,000 TEU.

Zim's ad hoc Far East-Europe sailings continue to be advertised even as Asia-Europe rates decline. The SCFI spot rate from Shanghai to North Europe decreased to $908/TEU as at September 19, the first time it dropped below the key $1,000/TEU rate since March, reported Alphaliner.

Rates as low as $650/TEU are currently offered, just ahead of the October Golden Week holidays in China, with rate weakness expected to persist until the end of the year.

Source : HKSG.

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