Xeneta: Asia-Europe boxship build-up puts pressure on rates

Added boxship capacity on Asia-Europe trades could put more pressure on rates, according to benchmarking platform Xeneta.

The Ocean Alliance of lines is revamping its northern European runs to add a seventh loop from April.

This could put "additional pressures" on the trade, Xeneta said.

"The alliance seems to have had its hand forced due to Cosco's delivery of around a dozen ULCVs due to come online in the first six months of the year," it added.