ISRAEL's Zim has ended its monthly ad-hoc sailings from Asia to north Europe, according to Alphaliner, ending the restructured container line's presence in the trade.
Losses obliged the new restructured Zim to suspend liner service last April and end its slot swap with China Shipping on CSCL's AEX1 loop.
But, since June, Zim has been offering ad hoc sailings to north Europe every four to six weeks, using ships of between 4,600 and 10,000 TEU that would otherwise have been laid up - and offering the lowest rate in the market.
The move means it has scrapped three sailings originally scheduled to depart from Asia over December, January and February. The carrier had earlier announced its decision to pull out of this major tradelane last April.
This comes as many of the top 20 global shipping lines have been announcing new Asia-Europe services to pour in the surplus capacity that is coming on stream with the on-going deliver of ultra large container ships and the formation of new shipping alliances, where competition is heating up.
Zim withdrew from the AEX 1 service, a joint service with CSCL last spring, reported Alphaliner. The Israeli line continued to offer ad-hoc sailings on this route since June, with departures every four to six weeks, using various surplus ships of 4,600 to 10,000 TEU.
The report said it is taking advantage of the recent space shortage and surging spot rates on this other major tradelane that is expected to pick up with increased usage of the Suez Canal until the expanded Panama Canal opens to serve mainly the US west coast.
The 8,440-TEU Zim Chicago is said to be booking an ad-hoc voyage from Chinese ports via the Suez Canal to New York, Savannah and Kingston, and this to be followed by the 10,062-TEU Tianjin ahead of the Chinese New Year.
WORLD SHIPPING
22 January 2015 - 22:14
Zim drops Asia-Europe service, but toys with Asia-east coast North America
ISRAEL's Zim has ended its monthly ad-hoc sailings from Asia to north Europe, according to Alphaliner, ending the restructured container line's presence in the trade.
WORLD SHIPPING
22 January 2015 - 22:14
Zim drops Asia-Europe service, but toys with Asia-east coast North America
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