Carriers are taking services out of the transpacific, and this year’s first boxship scrap candidates have emerged as container shipping recalibrates to a slowing global economy.
On the Asia to the US west coast tradelane, Linerlytica reports three services have been withdrawn with two more suspensions planned.
The services to be removed represent just 7% of the total capacity on this tradelane, and remain insufficient to counter the recent sharp reduction in demand, Linerlytica suggested in its latest weekly report, going on to estimate that demand to the US west coast dropped 20% in September compared to the same month last year, with capacity utilisation 5% lower despite running on 16% less capacity.
For more details, please visit the below website of Splash 247.
Reference: Sam Chambers, "Volume of blank sailings deemed insufficient to stem box rate decline", Splash 247, Oct 4, 2022