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They are coming! Maersk Line has diverted its largest containerships to the Cape route on their voyages from Europe to the Far East, rather than their usual route via Suez. They will transit the canal on their return to Europe.
The first of these 394-metre ships, Elly Maersk, is heading this way, having sailed from Algeciras on January 22 on a direct voyage to Shanghai. Since her arrival date in the Chinese port (February 23) is about the same as if she had gone via Suez and a few other ports, Maersk's Chinese clients will not have to wait longer for their cargo.
Since these ships are too high and too fast for boarding by pirates, this move is not connected to the piracy plague in the Gulf of Aden. (After a ship belonging to the Danish carrier was attacked last year, the company diverted some of its smaller vessels whose route took them past the pirates' lairs.)
Rather, the diversion of these larger, 11 000-teu and 8 000-teu ships via the Cape represents a significant cost-saving measure at a time when lines are exploring every possible way to balance the books.
The arithmetic involved is quite simple. A diversion to the Cape will mean about eight days' extra steaming, during which these impressive vessels consume a lot of fuel per day, costing $225 per ton at...