Bleak Outlook for Asia-Europe Ocean Container Sector

Press Release
Friday, October 12, 2012

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. 


 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

New Zealand: Maritime Trade is Key

Globally, shipping is on the rise – already 80-90 percent of the world’s trade is by ship; that is more than 12 billion metric tons of goods annually, shipped by 1.

The American Club Reports Solid Progress in 2015

The American Club reported solid progress during 2015 at the annual meeting of its members held in New York yesterday. Despite a challenging economic climate, the

Container Ships

MSC Jade Sails with MAN's Biggest Engine

The largest and most powerful engine from MAN Diesel & Turbo’s portfolio ever designed and built has entered service.   Built by Doosan Engine in Korea and rated at 75,

Slowing Shipping Fleet Growth to Ease Officer Shortage

Slowing growth in the size of the shipping fleet will reduce the shortage of officers over the coming years, according to the latest Manning report published by global shipping consultancy Drewry.

Kuriyama Joins Matson Board of Directors

The Board of Directors of Matson, Inc. has appointed Stanley Kuriyama as a director of the company, effective June 23, 2016.   Kuriyama is the Executive Chairman of Alexander & Baldwin, Inc.

News

Prince Charles Places Final Section of UK Aircraft Carrier

The second of the largest warships ever built for the U.K. Royal Navy, the Queen Elizabeth Class carrier HMS Prince of Wales, was given the royal seal of approval when HRH The Prince of Wales,

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0984 sec (10 req/sec)