Orient Overseas reported 3Q revenue growth in its container shipping operations of 5.8% year over year. On Asia-to-Europe shipping lanes it suffered a 7.4% slide in achieved rates. That was partly down to a weaker market, which is showing few signs of recovery despite blank sailings, but also to an apparent aggressive push for volumes. Orient Overseas’ Asia-to-Europe volumes surged 11.4% higher year over year in 3Q. Trans-Pacific shipping reversed after two quarters of declines. China-to-U.S. shipping was unchanged on a year earlier according to Panjiva’s data, while a 30....
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