Orient Overseas Mulls Route Expansion


According to a report on Bloomberg.com, Hong Kong containershipping goliath Orient Overseas (International) Ltd., may add services on routes within Asia as the region's economy, and freight rates, continue to recover.
According to the report on bloomberg.com, volumes on Asian and Australasian routes jumped 21% in the 3Q, outpacing growth for the U.S. and Europe and prompting Orient Overseas to consider adding more vessels. A.P. Moeller-Maersk A/S, the world's largest container line, is also set to increase investments in China and India in anticipation of emerging market traffic growth outpacing demand on U.S. and European routes.
Container volumes in emerging markets will grow 7 percent annually until 2015, more than triple the 2 percent expansion expected in more mature economies, according to Copenhagen-based Maersk.
(Source: Bloomberg)