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CMA CGM, Maersk and Hyundai will suspend their China-Korea-US East Coast service via Panama after the departure of the last eastbound vessel from Ningbo on September 27, according to China Economic Review.
This joint decision allows the three shipping lines to rationalise existing services and capacity to meet market demand which has sagged.
The loop is operated by eight 5,100 TEU vessels calling at Ningbo, Shanghai, Qingdao, Pusan, Balboa, Savannah, New York and Miami.
Future coverage of these ports will be done through existing services already operated either independently by CMA CGM or in a partnership such as the Columbus service.
Jean-Philippe Thénoz, CMA CGM's vice-president of North America lines said, the rationalisation of port coverage and slot supply corresponds to the actual trend demand observed on the Asia-US market since the beginning of this year.
He added that the suspension of services is a temporary move.
Cargonews Asia
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