The New World Alliance (TNWA) carriers - APL, Hyundai Merchant Marine (HMM) and Mitsui O.S.K. Lines (MOL) says they are cutting capacity by about 10% straight away on Transpacific trade. In addition the lines plan a furtehr winter capacity cut of between 5% and 10% from early December. And they say the withdrawal “may also run longer than in past years”.
A statement expalins the moves saying: “In the face of an unprecedented rise in operating costs – particularly for fuel –the TNWA has made the prudent business decision to withdraw more capacity and earlier than in previous years.”
The NWA says it anticipates that it will have “plenty of capacity” to meet demand for cargo transportation services in the Transpacific during this winter season. Service will continue to be provided at all existing port locations. The carriers did not rule out future additional network adjustments in order to minimize the impact of dramatically higher costs on their respective businesses.
The NWA carriers add that they “remain committed to providing customers with premium global container shipping services”.
A statement expalins the moves saying: “In the face of an unprecedented rise in operating costs – particularly for fuel –the TNWA has made the prudent business decision to withdraw more capacity and earlier than in previous years.”
The NWA says it anticipates that it will have “plenty of capacity” to meet demand for cargo transportation services in the Transpacific during this winter season. Service will continue to be provided at all existing port locations. The carriers did not rule out future additional network adjustments in order to minimize the impact of dramatically higher costs on their respective businesses.
The NWA carriers add that they “remain committed to providing customers with premium global container shipping services”.