Shipping Alliance THE Suspends Transpacific Service Due to Market Situation
July 06 2023 - 6:18AM
Dow Jones News
By Adria Calatayud
Hapag-Lloyd said Thursday that its THE Alliance shipping
partnership has temporarily suspended a service of its Asia-to-West
Coast transpacific network in response to the current market
situation.
The German shipping company--which operates the alliance in
partnership with Ocean Network Express, HMM and Yang Ming Marine
Transport--said the route will be suspended as of August until
further notice and that three other transpacific services will be
enhanced to ensure that customers continue to receive frequent
coverage.
Hapag-Lloyd said in May that its first-quarter performance was
affected by weak demand and declining freight rates for container
transport.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 06, 2023 06:03 ET (10:03 GMT)
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