Former Evergreen and Yang Ming chairman predicts strategies to cut excess container ship capacity
Bronson Hsieh, former chairman of Evergreen and Yang Ming, has stated that container lines will use various strategies to reduce excess capacity and control redundant capacity, including laying up ships, mass blank sailings, and slow steaming. Hsieh also predicted that older vessels would be scrapped, and that carriers would increasingly reroute ships in order to reduce capacity growth ratios. This year and next, these efforts are expected to help bridge the gap between vessel supply and container shipping demand growth. Hsieh also discussed how carriers can remain profitable during the current downturn.
Source of information – Container news
