Drewry: sailing cancellations to increase due to P3 wait
According to the English analyst Drewry, more sailing cancellations are on the way as the P3 alliance has yet to spell out its intentions in any detail, and competitors will be loathe to risk losing market share by taking more radical capacity reduction measures in the interim.
Drewry expects ocean carriers to go for another round of serious sailing cancellations over this year’s winter season instead of service withdrawals. This practice will continue right up to the introduction of P3’s new services in Q2/2014. Whereas last year’s programme was motivated by indecision over future trade growth, this year’s is also driven by uncertainty over the P3 alliance’s intentions.