The New World Alliance announced that in the face of an unprecedented rise in operating costs, particularly for fuel, it will withdraw more capacity and do so earlier than in previous years as part of its plans for the transpacific trade during the slow winter season.
In addition to a capacity reduction of around 10 percent that began in mid-November, APL, Hyundai Merchant Marine and MOL said they would withdraw a further five to 10 percent of their joint capacity in the transpacific in early December. The withdrawal may be longer than in past years.
Calling the plan a prudent business decision, the group said it would have plenty of capacity to meet demand for container capacity in the transpacific during the winter season. Service will continue to be provided at all existing port locations.
The carriers did not rule out future additional network adjustments to minimise the impact of dramatically higher costs on their respective businesses.
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