Shipping companies cut work to save the market! The three leagues continue to cut capacity! Possible space crunch! Make shipment plan as early as possible.

With demand levels on global trade routes plummeting,

With demand levels on global trade routes plummeting and freight rates plummeting, shipping companies are preparing to implement the most severe cuts to liner services since the outbreak.

In order to stabilize freight rates, shipping companies stopped flights and reduced speed, and the container shipping market changed color overnight. Following the recent suspension of trans-Pacific services, the three major alliances are considering suspending or combining some Asia-Northern Europe loop services to mitigate the impact of a sharp decline in bookings and slow the erosion of sharply lower freight rates.

On October 11, Maersk issued an announcement saying that due to the forecast of reduced global demand, Maersk is looking to balance the transport service network accordingly. After suspending two trans-Pacific routes at the end of last month, it will cancel capacity on the Asia-Northern Europe route.

Maersk said,

Maersk said the first affected vessel will be the 16,652TEU MSC Hamburg, which departed Ningbo on October 26 to serve the 2M AE1/Shogun loop with stops in Ningbo, Xiamen, Yantian, Tanjung Palapas in Malaysia and Rotterdam, Zeebrugge and Bremerhaven in Europe.

According to eeSea data, the loop deployed 11 vessels with an average capacity of 15,414 TEUs and a round trip of 77 days.

"Our overall goal is to provide predictability to our customers and minimize supply chain disruption by providing alternative routes and coverage for affected vessels," Maersk said. Meanwhile, Maersk's 2M partner MSC said yesterday that the voyage of MSC Hamburg was only temporarily cancelled, indicating that services would resume within a week.