Bleak Outlook for Asia-Europe Ocean Container Sector
Maersk Line cuts further capacity on the Asia-Europe trade on low demand, cuts AE5 service permanently & suspends the AE9 service.
“We do not expect volume growth on the Asia-Europe trades this year so there is currently no need for the number of ships sailing”, says Vincent Clerc, Chief Trade & Marketing Officer for Maersk Line. “We expect a 3% slump on the Asia-Europe container trades for 2012 and are taking steps to adjust to this without reducing our market position”.
“Further to the 9% capacity reductions we made earlier this year, this brings the total capacity reduction in 2012 on Maersk Line’s Asia-Europe network to 21%”.
The Maersk Line AE5 service, which currently operates 8 vessels of 6500 TEU nominal capacity, will be closed with the last sailing departing Tanjung Pelepas on 8 November 2012.
The AE9 service’s 11 vessels with 8000 TEU nominal capacity will be suspended immediately until early December 2012.
Total trade volume has declined and the outlook for the economies of Europe and Asia remains weak. Where commercially appropriate, Maersk Line will consider additional opportunities to reduce capacity and look for slow-steaming opportunities.