Due to deteriorating market conditions, the AAS Consortium partners APL, Hamburg Süd, Hapag-Lloyd, Hyundai Merchant Marine and Evergreen have decided to reduce capacity in the trade between North East Asia and Australia with immediate effect.
The total nominal AAS capacity will be reduced by 3,200 TEU per week in the period from 1st February through to June 2009.
This will be achieved by idling the AAS Southern loop during this period. The AAS Northern loop will be adjusted in scope to cover the Taiwan, South China and Hong Kong markets.
The revised service structure will have the following rotation:
Busan - Qingdao - Shanghai - Ningbo - Kaohsiung - Yantian - Hong Kong - Melbourne - Sydney - Brisbane - Kaohsiung – Busan
The Japanese market will continue to be served through separate individual arrangements. The revised service will be operated with six modern vessels of 3,600 TEU nominal capacity.
The AAS Consortium partners will review the trade prospects in June 2009. Should the trade situation improve sufficiently to warrant additional capacity the AAS Southern loop will be re-established.