As the U.S. economy continues to expand, the demand for global shipping is increasing worldwide; Europe is showing signs of life, and China is about to reassert itself as a global leader. The problem is that there are a huge backlog of shipping containers sitting at ports and waiting for container ships.
Some analysts believe ports have been saturated due to a rise in exports, while others point to consolidation in the shipping industry as the underlying problem.
Shipping is already challenging enough without having to create even more problems the alliance has created.- Secretary General for European Shippers’ Council (ESC)
The new alliance reconfiguration, consisting of the THE Alliance, the OCEAN Alliance, and the 2M Alliance, accounts for over 90 percent of container ship traffic worldwide, has disrupted Europe-to-Asia container traffic on an unprecedented scale. It has been said that the new alliance reorganization has essentially “broken” the system for Asia shipping.