Maersk reducing Asia/Europe capacity

Maersk reducing Asia/Europe capacity Maersk Line said it would reduce capacity on its services between Asia/Europe because of “challenging market conditions.”
   “The current Asia/Europe market is characterized by unsustainable rate levels. The changes will support our market position and ensure that our network is sustainable in the long term. Thereby we can continue to offer our customers an extensive and reliable service network in the Asia/Europe trade,” said Robert Kledal, vice president and head of product management for Maersk Line.
   In the second week of November, it said it would:
   ' Temporarily remove it AE8 service, removing 7,600 TEUs per week from its network.
   ' Link its AE1 and AE10 services to accommodate AE8 port calls without loss of service connections.
   ' Adjust its Asia/Mediterranean services — AE3, AE6 and AE11 — to widen its range of direct port combinations between Asia and the Mediterranean.
   “The temporary suspension of the AE8 service and the extension of the direct services between Asia and the Mediterranean are in line with network adjustments carried out earlier in the year,” the company said.
   “We are continuously optimizing our network and looking for ways to make our operations more cost effective and competitive,” Kledal said. “We believe that the changes we announce today show that it is possible to adjust capacity and in the same time maintain and even expand our service level and coverage.”
   For full details see: www.maerskline.com/link/?page=news&path=/news/news20081024.