Hanjin Shipping, which operates five Asia-North Europe loops jointly with CKYH, said it will skip one loop in January and plans to skip more voyages on the other four loops to adjust capacity to lower demand during the slack winter season.
Hanjin will skip the NE5 loop and also will skip voyages in the remaining four loops, NE1, NE2, NE3 and NE4, after the Chinese New Year in response to the traditional drop in market demand after the long holiday.
The South Korean carrier said it is also considering further capacity reduction in Asia-Mediterranean loops.
It said it may skip one voyage in each of the three Asia-Mediterranean loops, MD1, MD2 and MD3, during December, and another blank voyage each after Chinese New Year. It is also considering a second option of suspending one of the three loops during the slack season.
The South Korean carrier said it will cancel the NE5 voyage scheduled to start on Jan. 1 from Kwangyang, which was originally to be performed by the Hanjin Bremerhaven.
Hanjin Shipping deploys nine vessels in the NE5 loop, on which Cosco, “K” Line, Yang Ming and United Arab Shipping have slots.
The port rotation of the NE5 is: Gwangyang, Busan, Shanghai, Ningbo, Yantian, Singapore, Suez, Hamburg, Rotterdam, Le Havre, Algeciras, Suez, Kaohsiung, and back to Gwangyang.
The Journal of Commerce Online
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