KOREA's
Hyundai Merchant Marine's (HMM) expansion plan in ordering fourteen
22,000-TEU ships, is incompatible with market stability,
declares London's Drewry Maritime Research.
Also astonishing to the research house is HMM's plan to
deploy the Asia Europe Express (AEX) using old and comparatively tiny
panamaxes of 4,700 TEU in April.
"The AEX ships would be the smallest deployed on the
route that is usually reserved for ultra large container vessels with faster
transit times to Europe," said Drewry
Alphaliner says calls at Rotterdam, Hamburg and Felixstowe
being used as the carrot to shippers.
"The two developments appear to be connected. HMM
has two years left to run on a slot-charter agreement signed in 2016 with 2M
carriers Maersk Line and MSC and presumably sees the new
ships either as a bargaining chip to continue that partnership as it will have
more to bring to the table, or to leverage full membership of another carrier
group, or in the worst case scenario to have sufficient means to operate
independently, building on the custom generated by the AEX service," says
Drewry.
Source : HKSG.