2M Suspension of Asia-Europe String Too Late

first_imgzoom The 2M carriers, Danish Maersk and Switzerland-based MSC, have decided to suspend regular sailings of their Asia to North Europe string ‘AE-9/Condor’ from September amid collapsing freight rates spurred by lower demand on the trade this year.Total demand on the headhaul trade dropped by 3.5 % during the first half of 2015, while average capacity increased by 3.4 % in the same period.Last week, rates for twenty-foot equivalent units from Asia to Europe stood at a loss making level equaling to USD 640, according to the Shanghai Containerized Freight Index. However, according to market analyst Alphaliner, the decision on suspension comes too late to reverse the ongoing rate slide on the trade.“Alphaliner already highlighted the need for each of the four alliances to remove one Far East to North Europe string in June, in order to balance trade capacity with the lower demand,” Alphaliner said.The ‘Ocean Three’ carriers eventually made the first move and announced the cancellation of 12 consecutive weekly sailings starting from the end of June. Not much later, this was partly matched by the G6 and CKYHE alliances, with selected void sailings.As World Maritime News reported yesterday, G6 carriers voided additional four sailings within their Asia-Europe product in response to drop in market demand.“The 2M carriers however, remained steadfast in not withdrawing any capacity throughout the months of July and August. The shipping lines’ failure to remove surplus capacity has effectively doomed the last two General Rate Increases (GRIs), announced on 1 July and 1 August, respectively,” Alphaliner added.The industry analyst believes that although carriers will attempt another rates hike on 1 September, any success would likely be short-lived as demand is expected to fall sharply in October, when China’s week-long National Day ‘Golden Week’ holidays will mark the end of the summer peak season.Danish liner giant Maersk Line has already revealed plans to hike spot freight rates by USD 1,000 on main routes from ports in Asia to ports in northern Europe from September 1.The move was soon backed by Mediterranean Shipping Company and French CMA CGM, which have announced rate hikes of USD 1,000 and USD 950 respectively, along with Evergreen, Orient Overseas Container Line and Japanese K Line, Reuters reports.World Maritime News Stafflast_img read more

Heavy red meat eaters at increased risk of death

first_imgIncreasing red meat consumption, particularly processed red meat, is associated with a higher risk of death, researchers warned. A recently published study shows that replacing red meat with other protein sources, such as eggs and fish, whole grains and vegetables, over time may help you live longer. For the study, a team of researchers from Harvard University looked at the link between changes in red meat consumption over an eight-year period with mortality rate during the next eight years, starting from 1986 to the end of follow-up in 2010. Also Read – An income drop can harm brainThey used data for 53,553 US registered female nurses, aged between 30 and 55, and 27,916 male health professionals in the US, aged between 40 and 75, who were free of cardiovascular disease and cancer at the start of the study. Every four years the participants were given a food frequency questionnaire (FFQ) where they were asked how often, on an average, they ate each food of standard portion size in the past year. They were then divided into five categories based on their changes in red meat intake. Also Read – Shallu Jindal honoured with Mahatma AwardDuring the study period, the total number of deaths from any cause reached 14,019 (8,426 women and 5,593 men) and the leading causes were cardiovascular disease, cancer, respiratory disease and neurodegenerative disease. After adjusting for age and other potentially influential factors, increasing total red meat intake by 3.5 servings a week was associated with 10 per cent higher risk of death in the next eight years. Overall, reducing red meat intake while eating more whole grains, vegetables or other protein foods such as poultry without skin, eggs and fish, was associated with a lower risk of death.last_img read more