New World Alliance to reduce capacity in slack season

New World Alliance to reduce capacity in slack season    New World Alliance members APL, Hyundai Merchant Marine, and Mitsui O.S.K. Lines said Tuesday that from November through April 2007, the alliance will suspend about 4,000 TEUs of capacity per week and adjust services to meet decreased trade demand anticipated during the annual slack shipping season.
   The temporary capacity adjustment reflects the TNWA carriers' ongoing commitment to maximize efficient asset utilization and to manage increasing costs. The service adjustment will also enable members to conduct routine maintenance and repairs to their vessels.
   Two weeks ago Grand Alliance carriers Hapag-Lloyd, NYK and OOCL said that from Nov. 20, they would reduce combined capacity in the transpacific market by about 3,000 TEUs per week to balance supply and demand.