zim shipping zooms news by Hebei Longsheng metals and minerals co., ltd.
| ZIM Shipping zooms ahead of peers with China success, Canada routes The container shipping industry is facing a tough end to 2019. Volumes handled on U.S.-inbound routes fell by 5.5% year over year in November, following a 7.3% slide in October. The shipping firms also face uncertainties regarding fuel costs related to new sulfur emission rules and potential greenhouse gas regulations. The policy environment has been more favorable though with shipping alliances retaining their exemption from competition rules while the U.S.-China phase 1 trade deal may reduce pressure on volumes. The worst performing shipping line on U.S.-inbound routes in November was COSCO Shipping with a 14.2% year over year slump due to its exposure to China-U.S. routes. Hapag-Lloyd meanwhile saw a drop of 4.1% despite the higher proportion of Europe-U.S. routings in its business. Most other top 12 shipping firms saw a decline with the exception of ZIM Shipping which increased by 4.8%. ZIM’s shipping to the U.S. from China climbed 8.1% while new services from Canada for firms including Bunge and Unilever was also a major driver of the container-line’s success. |
