GRAND ALLIANCE members Hapag-Lloyd, MISC Berhad, NYK and OOCL have announced they will re-route all eastbound EU3 service vessels around the Cape of Good Hope instead of the Suez Canal.
This is the latest move against canal fees, which appear to take little account of the precipitous drop in freight rates. Maersk and CMA CGM have already taken steps towards moving cargo around the Cape to avoid Suez and Panama fees.
Said the Grand Alliance statement: "The decision, which takes place with immediate effect, is in response to high Suez Canal toll fees, which are difficult for carriers to afford in the current economic environment," said the statement.
Port rotation of EU3 remains the same: Southampton, Hamburg, Rotterdam, Port Kelang, Singapore, Shekou, Hong Kong, Ningbo and Shanghai, with an extra seven days added to the schedule. Ten ships of 8,000 TEU or more are operating on the service.
The Grand Alliance will consider re-routing more services if the overall economic situation does not improve, said the statement.
On February 17, the Hong Kong Shipping Gazette reported that CMA CGM, the world's third largest container shipping line, has decided to bypass the Panama Canal on the homebound leg of its PEX2 service linking Asia to the Caribbean in favour of the longer, but cheaper Cape route.
Earlier, on February 10, the Gazette reported Maersk Line, the world's biggest container line was planning to divert cargo around the Cape unless Suez Canal transit tolls are reduced. No more has been heard since AP Moller-Maersk CEO Nils Andersen and Maersk Line CEO Eivind Kolding met Suez Canal Authority officials and were said to have received an "sympathetic hearing".
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