Wan Hai, PIL ditch transpacific service
Wan Hai and Pacific International Lines will end their China Transpacific Service at the end of February and take slots on a similar “K” Line service, Lloyd’s List reported Wednesday.
The two carriers in October downsized capacity by 40 percent on the service, which calls at Xiamen, Hong Kong, Yantian, Kaohsiung, Long Beach, Oakland and Xiamen. But they found even with using smaller, 2,500-TEU vessels, conditions hadn’t improved.
“The market is not so rosy and we have to rationalize services in the best way we can to cover the market,' Tan Chor Kee, deputy managing director of PIL, told the London publication.
PIL and Wan Hai in December suspended a Far East/North Europe service and took slots on a COSCO service.
They will join “K” Line’s PSW-1 service at the beginning of March.