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Suez scarring improves appeal of new Orient Overseas service

China 2894 Cons. Discr. - Durables 453 Corp - Shipping 936 Germany 226 Materials - Construction 106 Mode - Containerized 1424 Mode - Rail 103 Mode - Seaborne 1760 U.S. 5193

Orient Overseas has launched a new, rail-and-sea containerized freight service from Xi’An in China to the U.S east coast via Bremerhaven in Germany. That may prove attractive to shippers that faced disruptions as a result of the Suez Canal blockage earlier in 2021. It may also help maintain Orient Overseas’ growth given U.S. seaborne imports handled by the firm fell by 13.9% year over year in July 2021. Importers to U.S. East Coast ports on the service from the region 500 km around Xi’An accounted for 64,000 TEUs of shipments in the 12 months to July 31. The largest importer to the U.S. ...

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