Safmarine departs Asia/Europe trade

Safmarine departs Asia/Europe trade    Safmarine said it will withdraw from the Asia/Europe trade.
   This includes all Asia-Europe strings between Asia and the Northwest Europe, Iberia, the Italian and Balkan peninsulas, and Eastern Europe.
   Safmarine, which is a part of the A.P. Moller-Maersk Group, said it will continue to serve all Asia-to-Africa markets, including North Africa.
   The company said the withdrawal will commence immediately, with final cargoes being shipped by June 30. A small number of large accounts, who have contractual commitments with the company, will withdraw their volumes in a phased approach and concluded by the end of the year, Safmarine said.
   'This long-term decision has been taken to ensure a sustainable and profitable future for Safmarine as a regional carrier providing and developing our market-leading core services to and from Africa, the Middle East and the Indian Subcontinent,” the liner carrier said in an announcement.
   Last summer, Safmarine announced its withdraw from the transpacific trade lane at the end of June 2010, stating that because of its small size and poor conditions in the transpacific market were expected to continue, profitable participation in the trade was difficult.