The fastest growing containerline fleet in the world in percentage terms is a brand better associated with low-cost goods on the European high street.
While other retail chains have pulled back from chartering in ships since the covid pandemic waned, Tailwind Shipping Lines, owned by the parent of Germany’s Lidl supermarket chain, has doubled down, with data from Asia-based box analysts Linerlytica showing the carrier is the fastest growing in the world, growing by 43% since July, largely in response to the longer times it is taking to gets its goods to market from Asia via southern Africa thanks to the Houthi attacks in the Red Sea.
Linerlytica data now places Tailwind, founded two years ago, as the 38th largest liner in the world with 15 ships and just over 40,000 slots. Two of the vessels are owned. It has also has two ships on order.
The company has also just concluded a three-year term for its largest ship, taking the 6,881 teu Kea, with the reported rate standing at $39,000, marking a notable 15% increase from the last similar vessel fixed approximately a month ago. The vessel is owned by Monaco-based, Embiricos family-controlled International Maritime Enterprises.
Among other recently chartered in ships, Tailwind has taken the 917 teu Faith, the 1,118 teu Wilhelmina, the 1,134 teu Asiatic Neptune, the 2,207 teu Kumasi and the 1,042 teu Chattanooga.
Hua Joo Tan, co-founder of Linerlytica, told Splash that with Asia-Europe rates at between $4,000 to $6,000 per feu niche services such as those conducted by Tailwind have become feasible again.
Both spot and charter rates have zoomed up since the Houthis started attacking ships in the Red Sea in response to the near five-month war between Israel and Hamas.
While spot rates have shown evidence of decline over the past fortnight, the charter market remains hot.
“The high activity in the [charter] market remains mostly driven by the consequences of the situation in the Red Sea, as well as high cargo volumes on some important routes,” a recent report from Alphaliner noted, while broker Braemar said the “robust trend” observed over the past two months persists across all vessel sizes and geographical regions.
During the global supply chain crunch experienced during the pandemic a host of other well-known retail names including Ikea, Walmart and Home Depot opted to charter in their own ships.
