JOC Staff | Oct 15, 2012 10:09AM EDT
Shipping company Hyundai Merchant Marine will no longer offer refrigerated services from the U.S. East Coast to Asia, starting Jan. 1, 2013, because of inadequate profit from the service, the company announced recently.
Longer round-trip voyages of East Coast services slow the turnaround of equipment, requiring more container inventory compared to other trades, said Lamont Petersen, Hyundai’s vice president of trans-Pacific westbound trade.
Hyundai might consider reinstating the service if the market improves, Petersen said.
