CMA CGM, Maersk and Hyundai suspend an Asia/US East Coast loop

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Shanghai: CMA CGM, Maersk and Hyundai have revealed that they are to suspend their China, Korea, US East Coast service via Panama after the departure on September 27th, 2009 of the last eastbound vessel from Ningbo. The lines claims that this joint decision allows them to rationalize existing services and capacity to meet market needs.
‘This rationalisation of port coverage and slot supply corresponds to the actual trend demand observed on the Asia / US market since beginning 2009,’ said Jean-Philippe Thénoz, CMA CGM vp North America Lines. ‘Suspension of services is in our mind a temporary move. We are fairly confident that the North America trade will rebound in the near future.’
The loop operated by eight 5100 TEU vessels, named HUDSON Service by CMA CGM, was calling ports such as Ningbo, Shanghai, Qingdao, Pusan, Balboa, Savannah, New York and Miami.
The future coverage of these ports will be done through existing services already operated either independently by CMA CGM or in a venture with partner such as COLUMBUS Service. [26/08/09]