Shipping lines are cutting container services between North Asia and Australia as plummeting freight demand reaches “breaking point”.
According to Alphaliner, streamlining services on the North Asia-China-Australia trade will remove around 4,500 teu of weekly capacity and make five classic panamax ships redundant.
For example, Alphaliner said, the joint Australia Express service by ONE, Yang Ming, Evergreen, APL and Hapag-Lloyd would be closed in its current form; as will a service jointly …
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Source: The Loadstar
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