Major container shipping lines on the main global trade between Asia and Europe are red-lining a host of sailings, despite it being the northern hemisphere’s supposed peak pre-Christmas season.
What the Wall Street Journal described as “glut of tonnage in the water combined with lower demand” is leading to the cuts in sailings by the main players.
The G6 Alliance – whose members are Singapore’s APL; South Korea’s Hyundai Merchant Marine; Japan’s Mitsui OSK and NYK; Germany’s Hapag Lloyd and Hong Kong’s OOCL – has just announced it will cut 12 round-trip sailings (16.6% of capacity) from the trade, starting from next month.
And, earlier this month, the 2M alliance between Denmark’s Maersk Line and Switzerland’s Mediterranean Shipping Company (MSC) also cut about 10% of its normal capacity from the trade “until further notice”.
Major container lines slash Asia-Europe sailings
Comments | 0
© Now Media. This content is protected by copyright and may not be adapted or republished. If you would like to discuss cooperation opportunities, please contact: editor@freightnews.co.za.
