SOUTH KOREA's Hanjin Shipping will end its New Trans Atlantic (NTA) service between the US east coast and north Europe, the company said in a notice to trade.
'Dismal market' has Hanjin exit CKYH's north Atlantic serviceSOUTH KOREA's Hanjin Shipping will end its New Trans Atlantic (NTA) service between the US east coast and north Europe, the company said in a notice to trade.
"This decision comes in light on continuing dismal market conditions, which do not support operational costs," said Hanjin.
Other members of the CKYH alliance - Cosco, "K" Line and Yang Ming - will continue the service. Hanjin said it will leave with the sailing of Yang Ming Vancouver, estimated to depart New York on May 14.
"Should NTA or a similar service be reinstated in the future, we hope to enjoy your support as we have in the past," Hanjin said.
Hanjin will withdraw as a vessel provider on the TranAtlantic Express service, known as the TAE/TAS1. The last sailing westbound from Antwerp is scheduled for April 28, arriving New York on May 12.
The service rotates through Antwerp, Bremerhaven, Rotterdam, Le Havre, New York, Norfolk, Charleston and back to Antwerp, deploying four 4,200- to 5,000-TEU vessels with Hanjin supplying the 4,389-TEU Phoenix.
The service was Hanjin's only north Europe/USEC service. The only other Atlantic service covers the India/Mediterranean/US east coast trade and is operated by United Arab Shipping Company (UASC) and Hanjin.
