Steamship lines are reducing service and capacity from Asia as demand continues to fall in the market.  

The 2M Alliance has now confirmed it will be taking action to reduce its Asia-North Europe service, which quickly follows it also suspending two transpacific loops last month.

A spokesperson for Maersk Line said “As a consequence of the forecasted reductions in global demand, Maersk is looking to balance the network accordingly”.

Initially the 2M sailing ‘MSC Hamburg’ due to depart Ningbo on 26th October has been cancelled, with a strong hint that more will follow.

Volumes following China’s Golden Week often take a short while to rebuild, but the lack of a strong peak season has led to industry experts forecasting further drops in demand.

The global cost of living rises, alternative sourcing markets and China’s ongoing fight with Covid have seemingly contributed to the downward spike in demand.

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