Hanjin and Evergreen follow Maersk’s lead to announce cuts in sailings

Companies strip 23% of capacity from joint Asia-Europe service

HANJIN Shipping and Evergreen have followed the lead set by Maersk, which announced fresh capacity cuts on its Asia-Europe services last week, and are to cut 13 voyages from their joint weekly sailings from China to Europe.

The move will cut the two carriers’ capacity on the trade by 23%.

In a press release, the two lines said they were “considering further capacity reduction on this service depending on market demand and supply situation”.

One departure in week 41 was cancelled, as well as one departure each in weeks 44 and 49, according to the two companies.

Hanjin has also cut its own Asia-north Europe route, reducing nine sailings to eight, which represents a capacity reduction of 13% comparing the fourth quarter of this year to the third.

Hanjin said the change would take effect immediately.

So far this year, Maersk Line has cut its capacity on the Asia-Europe trade by 21%.

These moves to pull capacity on the key Asia-Europe route are important, as they signal how Maersk’s arguably critical capacity cut is being followed by other lines operating the route.

Container lines are fighting to maintain rates, with European imports of containerised goods from Asia falling 10.8% year on year in August, after slipping more than 13% in July, according to data from Container Trade Statistics.