Big three boxlines slash transpacific coverage

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Copenhagen: A.P. Moeller-Maersk Thursday said its Maersk Line unit was revising its transpacific network services, which it operates under a vessel sharing agreement with Mediterranean Shipping Company and CMA-CGM. The trio will cut their joint transpacific services from three to two.
"In response to the challenges facing ocean carriers as a result of the global economic downturn, we must continually look at ways to reduce our cost and increase efficiency", said Bill Woodhour, North America Sales Manager for Maersk Line.
By the end of September 2009, the current Trans-Pacific 2 (TP2) will be replaced by other strings in the Trans-Pacific network and replace most of the ports formerly covered by the suspended TP2.
Carriers are anticipating that the transpacific will be the last major tradelane to recover from the downturn. [07/08/09]