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German ocean carrier Hamburg Süd said Monday it is immediately reducing capacity on its service between the Mediterranean and the East Coast of South America "due to deteriorating market conditions."
"This rationalization will be achieved by combining the present two-string operation into one weekly service," the carrier said.
Total nominal capacity will be reduced by 1,700 TEUs per week with the revised service using seven 4,200-TEU vessels, with Hamburg Süd providing three.
The revised service will have a rotation of Valencia, Tarragona, Barcelona, Livorno, Vado Ligure, Malta, Dakar, Rio de Janeiro, Santos, Buenos Aires, Montevideo, Rio Grande, Paranagua, Santos, Rio de Janeiro, Pecem and Valencia.
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