The G6 Alliance of European and Asian container carriers said it is temporarily suspending one of its Asia-Europe services because of “the forecast lack of improvements“ in the trade, in a move rival lines will likely follow in the coming weeks.
The last sailing of the Loop 3 service, which has been suspended until further notice, will be the OOCL Hamburg departing from Shanghai on Oct. 6. All ports will be covered by other services after the suspension of the Loop 3 service, a joint statement from the six carriers said.
“The market environment will be closely monitored for the resumption of the Loop 3 service accordingly,” they said.
The G6 Alliance members are APL, Hapag-Lloyd, Hyundai Merchant Marine, MOL, Nippon Yusen Kaisha and Orient Overseas Container Line.
Other carriers on the route are expected to suspend services going into the winter schedule in a bid to shore up freight rates and boost vessel capacity following a lackluster peak season. Maersk Line, the biggest carrier on the Asia-Europe trade, reportedly expects westbound traffic to decline 3 percent this year from 2011 levels.
The Journal of Commerce Online
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