Over the next five weeks, the 2M Alliance has announced 18 blank sailings. In the context of currently weak global demand, MSC, a global leader in the container shipping industry, has four container ships set to enter the market.
Mississippi River, the largest river in the US, has been enduring record-low water levels due to the long-lasting drought across much of the US since early October. The river is traditionally viewed as the lifeblood of the American economy: barges going upriver and downriver carry grain, fertilizers, raw materials, and other goods that are essential to the US industry and agriculture. However, the barge traffic on the river has been slowed for a long period of time.
Dating back to September 2022, Maersk has already suspended an Asia-US east coast loop. Ocean carriers like Maersk and MSC had announced a series of canceled sailings in response to the reduction in bookings to North America due to a huge demand drop in global trade lanes.
MSC (Mediterranean Shipping Company) is viewed as one of the leading container lines in the world. In order to cater to various demands of consumers, MSC has determined to develop an air cargo division named MSC Air Cargo, which will begin operations in early 2023. By this move, MSC joined its peers like Maersk, CMA, and CGM. However, there is a difference: MSC rents aircraft.