As reported by Sea-Intelligence, the number of canceled trains has increased sharply on the trans-Pacific service, but not so much on the Eurasian route.
Sea Intelligence, with the help of the Canceled Ships Tracker, looked at how carriers responded to a drop in demand, especially for imports into North America and Europe, based on an analysis of the number of train cancellations.
The figure below shows the number of additional canceled trains that were reported (or unannounced trains recorded by Sea-Intelligence) between week 42 and week 52.
As reported by Sea-Intelligence, the number of empty trains has increased sharply on the trans-Pacific service, but not by much in Asia-Europe.
An additional 34 trains have been canceled on the Asia-West Coast North America service and 16 on the Asia-East Coast North America service.
However, during weeks 51 and 52, the schedule plans of carriers on the Asia-West Coast North America service will no longer see service cancellations.
"This reflects carrier reluctance about how to approach the potential rush ahead of the Lunar New Year. It seems like a wait-and-see approach to see if there's a seasonal spike in demand. " Alab Murphy, CEO of Sea-Intelligence, commented.
In Asia-Europe, on the other hand, there is no similar trend, with Asia-Nordic with only 6 more train cancellations and Asia-Mediterranean with 4 more train cancellations.
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Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
