CARRIERS CAPACITY CUTS  

The latest major capacity cut has been announced by Norasia Line.  They have suspended their ANE service, which was serving the ports of Shanghai, Ningbo, Xiamen, Yantian, Hong Kong, Port Kelang, Jeddah, Lisbon, Le-Havre, Hamburg, Rotterdam, Antwerp, and Felixstowe. 

This loop was not a major one for the UK, as Felixstowe was with a transhipment from Antwerp, but it is still another 7 ships removed from the overall Far East trade, which is increasing the space pressure on the remaining tonnage.  

Summary of recent large cuts affecting the Asia - Europe trade  

October        -     APL/Mitsui/Hyundai remove 7 ships, combining CEX and SCX services Capacity reduced by approximately 8,000 TEU per week

 November     -    Maersk/Safmarine remove 7 ships on AE8 loop Capacity reduced by approximately 8,000  TEU per week

 December    -    Cosco/K Line/Hanjin/Yang Ming remove 7 ships Capacity reduced by approximately 7,000 TEU per week

 January        -    Norasia suspends ANE service, removing 7 ships. Capacity reduced by approximately 5,000 TEU per week