Tailwind Shipping Emerges As Fastest-Growing Containerline Fleet In The World

Tailwind Shipping Lines, the wholly owned subsidiary of Germany’s Lidl Stiftung, has become the containerline fleet with the quickest rate of growth worldwide, according to statistics from box experts Linerlytica based in Asia.

Tailwind has grown by an astounding 43% since July, placing it the 38th largest liner globally, with 15 ships and slightly more than 40,000 spaces. The business, which was established two years ago, has already placed orders for two more ships.

The Houthi attacks in the Red Sea have resulted in longer transit times for Tailwind’s cargo from Asia to Europe via southern Africa, partly responsible for the company’s recent boom in fleet expansion. The grocery chain has increased its shipping capacity to satisfy consumer demand.

Many vessels, including the 6,881-teu ship Kea, owned by International Maritime Enterprises, based in Monaco, and the 917-teu Faith, 1,042-teu Chattanooga, 1,118-teu Wilhelmina, 1,134-teu Asiatic Neptune and 2,207-teu Kumasi have recently entered into charter agreements.

The current charter fees for Tailwind’s vessels, including the Kea, have risen significantly, with the reported rate at $39,000, representing a 15% increase over earlier agreements.

Analysts have pointed out the ongoing conflict in the Red Sea and heavy cargo volumes on strategic routes as the reasons for the rise in demand for charter vessels. The charter market is still active, with considerable activity in all vessel sizes and geographical areas, even with recent spot rate decreases.

Several retail companies, including Ikea, Home Depot, and Walmart, also turned to charter their ships during the pandemic-induced interruptions in the world’s supply chains to reduce logistical difficulties and guarantee prompt delivery of goods to their clients.

Reference: Splash 247

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Source: Maritime Shipping News