OOCL said it is suspending until further notice the Atlantic Express Shuttle that it operates in a vessel-sharing alliance with Hapag-Lloyd between Hamburg, Antwerp and New York.
Although usually a fairly stable trade lane, many carriers have added capacity to the trans-Atlantic since the beginning of the year, which has led to overcapacity at a time when European demand for U.S. exports is depressed by recession.
The Hong Kong-based liner company said it will consider reintroducing the service at a later date, “depending on market conditions.” It said demand could be met by its other eight trans-Atlantic services.
Its German partner in the VSA announced the suspension last week.
The last westbound sailing of the AES will be the Commander from Hamburg on July 16.
The last eastbound sailing will be the Commander from New York on July 27.
The port rotation of the AES is Hamburg, Antwerp, New York, Hamburg and Antwerp.