Member lines of The New World Alliance (TNWA) engaged in the Transpacific, Asia-Europe and Intra-Asia trades have announced that they will reduce their capacity by about 4,000 TEU each week during the slack season, which runs between November and April 2007.The shipping lines - APL, Hyundai Merchant Marine (HMM) and MOL - said in a statement that the downward adjustment in capacity has been made to meet decreased trade demand anticipated during the annual slack shipping season.
TNWA explained that the temporary capacity adjustment reflected the member carriers' ongoing commitment to maximise efficient asset utilisation and to manage increasing costs, while maintaining best-in-class service levels for their customers. Furthermore, the service adjustment will also enable members to conduct routine maintenance and repairs to their vessels, the statement said. The move follows a similar adjustment made recently by member lines of the Grand Alliance engaged in the transpacific trade, which decided to mothball vessels during the traditional slack season from November 20. Alliance members Hapag Lloyd, NYK and OOCL said they would together lay up around 3,000 TEU per week, while the fourth member of the group, MISC Berhad, decided not to participate in the scheme.
TNWA explained that the temporary capacity adjustment reflected the member carriers' ongoing commitment to maximise efficient asset utilisation and to manage increasing costs, while maintaining best-in-class service levels for their customers. Furthermore, the service adjustment will also enable members to conduct routine maintenance and repairs to their vessels, the statement said. The move follows a similar adjustment made recently by member lines of the Grand Alliance engaged in the transpacific trade, which decided to mothball vessels during the traditional slack season from November 20. Alliance members Hapag Lloyd, NYK and OOCL said they would together lay up around 3,000 TEU per week, while the fourth member of the group, MISC Berhad, decided not to participate in the scheme.