13 September 2019

Changes In The Realignment Of The Container Shipping Industry Has Resulted In A Drop In The Westports Volumes

Changes In The Realignment Of The Container Shipping Industry Has Resulted In A Drop In The Westports Volumes
Just like any other industry, the container shipping industry is also akin to both predictable and unpredictable changes within it that modifies the entire configuration, whether it has a positive impact on the maritime arena or not. Quite contrary to the way it would have worked up to the advantage of the container shipping sector, the never-ending competition and the recent realignment (a few months into the past) has caused a significant drop in the Westports Holdings’ volumes by no less than 3 percent that resulted in the recording of 3.95m. In a stock market announcement, the port operator had highlighted the fact that this noteworthy change was registered between the months of January and May. Westports has recently declared the results of the first quarter and has predicted that flat growth is likely to continue throughout the whole year because similar volumes have been maintained like 2016. There has been some expectations regarding a much-needed surge in volumes during the second quarter of 2019 with respect to ad hoc calls or transitional moves during the ongoing interim phase, as some adjustments had been made by the alliances. Unfortunately, the volume surge did not happen according to the initial planning because of the cut-throat competition within the container shipping industry. Since Westports was unavailable to meet its earlier predictions, it had no other choice but to declare an update on the current status of volumes. Deciding to share it with the public, Westports has also made a bold move to report the sorry state of affairs with respect to volumes in the period between April to May, which has been recorded as being quite lower than the previous forecast by the organization. On a concluding note, Westports has put forward the moderate container throughput and predicts the year’s container volume to fall down by a single-digit percentage than last year.

Latest Blogs

MPCI Is Coming Is Your Supply Chain Ready for the UAEs New Maritime Rules
12 March 2026

MPCI Is Coming Is Your Supply Chain Ready for the UAEs New Maritime Rules

Preparing for the 2024 Container Shipping Peak with Expert Insights
27 June 2024

Preparing for the 2024 Container Shipping Peak with Expert Insights

MTDI, Data, Technology and barriers to adoption
27 June 2024

MTDI, Data, Technology and barriers to adoption