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 27th.
This joint decision allows the three shipping lines to rationalise existing services and capacity to meet market demand.
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.
According to Jean-Philippe Thénoz, CMA CGM's vice president of North America lines, 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, as CMA CGM is fairly confident that the North America trade will rebound in the near future.
This joint decision allows the three shipping lines to rationalise existing services and capacity to meet market demand.
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.
According to Jean-Philippe Thénoz, CMA CGM's vice president of North America lines, 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, as CMA CGM is fairly confident that the North America trade will rebound in the near future.