New World Alliance shipping lines to cut more capacity via Panama

NEW World Alliance carriers MOL, APL, Hyundai Merchant Marine and CMA CGM have announced additional winter capacity reductions for the trade between Asia and the US east coast via Panama Canal.

In late November, New World Alliance carriers APL, HMM and MOL announced that they would be withdrawing capacity to the US west coast and earlier than in previous years in the face of an unprecedented rise in operating costs - particularly for fuel.

The latest announcement will see New World carriers reduce capacity to the US east coast by withdrawing some sailings in their ESX/SAX deployment, said a communique from the group.

The carriers confirm that service will continue to be provided at all existing port locations and the carriers will have sufficient capacity to meet demand for cargo transportation services in the transpacific during the winter season.

New World carriers remain committed to providing customers with premium global container shipping services, said the press statement. But they did not rule out future additional network adjustments to minimise the impact of dramatically higher costs on their respective businesses.