Evergreen, Hanjin Announce Seasonal Capacity Program
In response to a seasonal drop in market demand, Evergreen Line and Hanjin Shipping (117930.KS) have adjusted capacity for the joint CEM/CUS service effective for the fourth quarter of 2012.
Through 13 weeks from October to December, the joint CEM/CUS service is planned to skip three sailings. The first skipped voyage has been implemented in week 41 and the other two are scheduled in week 44 and week 49.
The seasonal adjustment will bring a reduction of 23 percent to the service string's quarterly capacity offering. Evergreen Line and Hanjin Shipping will consider further capacity reductions depending on market developments.
The CEM (China-Europe-Mediterranean) Service has been one of Evergreen Line's main liner services in the Far East - Europe trade since 1999.Hanjin Shipping joinedthe service and branded it as the CUS (China-UK Express) Service in August this year, after a joint venture with China Shipping expired.