TRANS-PACIFIC LINES CEASES OPERATIONS
Hong Kong-based Trans-Pacific Lines has decided to cease operations.
The last transpacific ship for the small Asian carrier has left Asia, and is en route to the U.S. West Coast. The last vessel arrival is due in mid-November.
Trans-Pacific Lines, which started operating in 1999, had progressively scaled down its operations as freight rates fell in the highly competitive transpacific container trade. The chartered vessels the carrier had operated were recently taken back by their owners and chartered to Sinotrans Container Lines instead. Trans-Pacific Lines has taken slots on the vessels of other carriers, including Wan Hai and China Shipping.
Wallenius Wilhelmsen has also recently pulled out of the transpacific container market.