Supply and demand hits again. Freight rates on Asia to US routes are ultra low right now. This service will stop for 6 weeks. Perhaps it’s gone forever, as supply chains get used to doing without it. The 6 weeks gives them a chance to see about bookings for the big summer buildup for the US holidays.
Capacity cuts on the transpacific trade were likely to be on their way. OOCL and the G6 alliance led today with CC1 service suspension.
Source: OOCL launches the first capacity cuts on the transpacific as freight rates sink to unsustainable levels – The Loadstar