Sinking rates and new capacity create crashing waves in box line financials
The deluge of new containership deliveries continues, the extra capacity driving down freight rates and ...
Credit Vesselfinder.com
Singapore-based Ocean Network Express (ONE) has reported that its 13,900 teu vessel Madrid Bridge suffered a stack collapse, with, according to latest reports, at least 30 containers lost overboard.
Cargo claims firm WK Webster reported: “It is not currently clear how extensive the collapse of stow is, but it is reported that the vessel lost at least 30 containers overboard.”
It is unclear what precipitated the stack collapse last Friday, but the vessel is continuing west to its destination, New York – AIS data from VesselsValue showing the ship steaming at 12 kts, some 2,500km from port.
Madrid Bridge operates on ONE’s East Coast 4 (EC4) service, and the company said: “Our immediate priorities are to ensure the safety of the crew, the vessel and the cargo on board. Delays to the vessel’s schedule are expected.”
ONE added that an investigation into the cause and extent of the accident had begun.
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