Despite many cuts being made by top shipping companies in an ailing industry, a brand new shipping line, Viasea, will begin operations in northern Europe in the week of October 31, 2016, reported the Load Star.
The Norwegian shortsea line will depart for the first time from the Dutch port of Moerdijk for Oslo, and its business model is to market itself as a road transport alternative, with a modest TEU capacity of approximately 500.
Morten Pettersen, from intra-Europe liner, is the Managing Director running the new line; Mr Pettersen has extensive experience in the industry.
The news of the fresh shipping line beginning operations comes amidst announcements by larger shipping companies making serious cut backs and scrapping younger and younger vessels to tackle financial concerns during the industry slump.
A report by the International Monetary Fund (IMF) published on October 23, 2016, stated that the cost of saving the South Korean shipbuilding and shipping companies is approximately US$27.3 billion.
Viasea is not the only new development in the shipping market for northern Europe, in mid-October 2016, OPDR, a subsidiary of the CMA CGM Group, announced the introduction of its new PENN service; via Rotterdam, the service connects Continental Europe with the United Kingdom and Norway.