ONE Apus underscores dangers of international trade

China 2671 Coronavirus 456 Corp - Forwarders 279 Corp - Shipping 838 Mode - Containerized 1307 Taiwan 167 Thailand 112 U.S. 4741 Vietnam 299

ONE Apus, a 14,000 TEU container ship in the Ocean Network Express fleet, has lost 1,900 containers in a storm while sailing from Yantian, China to Long Beach, U.S. The lost containers include 40 units containing hazardous products. The crew are reported to be safe and the vessel is returning to port.

The occasional loss of a handful of containers is not unusual, indeed ONE’s Aquila vessel had a similar but smaller issue at the start of November, this was likely the largest loss since the MOL Comfort wreck in 2013.

Vessel fires and navigation errors are also a source of disruptions as outlined in Panjiva’s research from September 2019. Nevertheless, the magnitude of this loss is significant and the return of the ship to Japan may further delay deliveries for surviving containers well into the new year.

Panjiva’s data shows the ONE Apus has completed four major deliveries to the U.S. from China, Thailand and Vietnam since May 2019. In the most recent drop the leading consignees were Samsung Electronics with 212 TEUs carried predominantly from Thailand, Electrolux with 115 TEUs from Thailand and Hong Kong and apparel firm Centric Brands with 104 TEUs from Vietnam.

ONE Apus an occasional visitor to U.S. ports

Chart segments U.S. seaborne imports arriving on ONE Apus by port of lading.   Source: Panjiva

In terms of freight forwarders only 55.3% of shipments carried on ONE Apus since the start of 2019. The performance on delivery after the disruption will in part rely on the technologies available to each forwarder and their customers. The leading forwarder in the July / August arrival was Kerry’s Apex with 491 TEUs handled, followed by Expeditors with 359 TEUs. 

Wide range of forwarders use ONE Apus

Chart segments U.S. seaborne imports arriving on ONE Apus by forwarder.   Source: Panjiva

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