NSCSA LEAVES ASIA/EUROPE CONTAINER TRADE
National Shipping Company of Saudi Arabia will discontinue its container service between Asia and Europe and sell its three 4,400-TEU containerships previously employed in this trade.
“The three vessels deployed in the service are scheduled for delivery to the new buyer by June 14,” said Mohammad Al Mahmood, vice chief executive officer, lines, at the Saudi Arabian shipping line. The three fully-cellular containerships were built in 1999 for National Shipping Company of Saudi Arabia.
The exit of National Shipping Company of Saudi Arabia from the container trade follows a sharp fall in freight rates in the Asia/Europe trade, where ocean carriers say that they are losing money.
The carrier’s decision to end its liner container service does not affect its Middle East/U.S. roll-on/roll-off liner operation, which will continue unchanged.
Besides its Asia/Europe container service, National Shipping Company of Saudi Arabia operates roll-on/roll-off and breakbulk liner services, as well as tanker services and shipping services for project and heavy lift cargoes.