- Wan Hai says lack of vessels is hindering re-entry to Europe trades
- the idle container ship fleet was at a historical low of 0.7%, meaning almost all available vessels are in use
Wan Hai Lines re-entering the European lane is not considered for the time being, due to the lack of suitable ships says an article on The Loadstar.
Asia-Europe tradelane on hold
The dearth of ships available for charter or sale has caused Wan Hai Lines to put plans to re-enter the Asia-Europe tradelane on hold. The Taiwanese liner operator was addressing speculation that it had ambitions to restart its Asia-Europe service, axed in in 2010 due to a lack of scale.
Expects higher revenue
Management said globally, the idle container ship fleet was at a historical low of 0.7%, meaning almost all available vessels are in use. “Liner operators are not deliberately withholding any vessels. Freight costs will remain high and next year, we expect higher revenue and profits,” said Wan Hai.
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Source: LoadStar
