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22 Dec 2020 | 22:33 UTC — Houston
By David Lademan and Greg Holt
Highlights
Schedule slide lengthens transit time
Terminal delays remain key factor
Houston — German container carrier Hapag-Lloyd will apply a schedule sliding to its AS2 service between Asia and South America, adding seven days to the westbound backhaul to provide a buffer against port congestion and other terminal slowdowns.
This comes in response to the company facing "challenging operational conditions in Asia due to severe congestions," Hapag-Lloyd said in a Dec. 22 statement.
This schedule sliding will add another seven days to the westbound leg of the AS2 service between Asia and South America. By lengthening the transit time on this route, the company will be able to better "cope with the delays, minimizing port cancellation(s) and disruptions."
Port congestion has been a major consideration for many market participants as delays and container shortages in key Asian exporting hubs continue to hamper fluid trading activity.
"I expect the situation for Hapag will be close to normal in six to eight weeks from" Dec. 22, Hapag-Lloyd CEO Rolf Habben Jansen said Dec. 9 on a market update. "I'm not saying it will be back to normal by then, but we will make big steps toward normalcy."
Platts Container Rate 13 — North Asia to West Coast North America — remained steady at $3,900/FEU Dec. 22.
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