Yang Ming chairman Cheng Cheng-mount said liner operators would not resume Red Sea transits until the Houthis stop attacks on vessels.
Maritime day celebration
At Taiwan’s 70th Maritime Day celebrations last week, Mr Cheng said: “I don’t anticipate a ceasefire between Hamas and Israel any time soon, and shipowners will not risk the safety of their crews and vessels.”
However, he was optimistic that Q3 24 will be good for box lines, especially with the availability of ships and containers so tight – although, he added, the situation must be monitored week by week.
Mr Cheng also alluded to Drewry’s recent raising of its global container volume growth forecast for this year to 4.1% and the United Nations Trade and Development Organisation’s latest forecast that global GDP would grow by about 3% this year.
Showing its optimism, Yang Ming on 9 July ordered 9,100 containers from China International Marine Containers, at a cost of some $35m.
Meanwhile, at the celebration, Wood Chen, president of Taiwan’s International Ocean Freight Forwarders & Logistics Association, said shipping space was so tight that its members had been advised to book slots a month ahead to ensure smooth exports.
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Source: Loadstar
