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The 2M alliance is preparing to blank three Asia-North Europe sailings next month, as export demand from China plummets and container spot rates come under increased pressure.
2M partners MSC and Maersk have cancelled their Griffin/AE55 loop for the first week of May and will void two voyages of their key Shogun/AE1 service in the following weeks.
MSC attributed the cancelled headhaul voyages to “the ongoing market situation” and said bookings would be accommodated on “alternative services.”
The blankings by the 2M and two other alliances are seen as a bid to halt the slide in rates as cargo bookings from China have tanked, due to COVID lockdowns and intermodal restrictions.
Read more in an article from The Loadstar.