Hanjin, Evergreen cut China-EU capacity

Thursday, 18 October 2012 03:14

Hanjin Shipping and Evergreen Line are cutting capacity on the China-Europe trade in the fourth quarter by almost 25 percent in response to the seasonal drop in demand.

The carriers have not ruled out further cuts "depending on market demand and supply".

CUS (China-UK Express for Hanjin Shipping) and CEM (China-Europe-Mediterranean for Evergreen Line) is a weekly joint service provided by the two carriers.

Among 13 voyages scheduled from October to December, the companies have decided to take out three voyages, reducing capacity by 23 percent.

Meanwhile, Hanjin Shipping, a member of the CKYH Green Alliance has cut Asia-North Europe routes from nine to eight loops, trimming overall capacity by 13 percent from mid October.

Source: Cargonews Asia