YANG MING PULLS OUT OF ASIA/AUSTRALIA TRADE
The Taiwanese carrier Yang Ming Marine Transport will pull out of the Asia/Australia trade by the end of May, blaming overcapacity in the market.
Yang Ming had provided a service between Asia and Australia as part of a consortium that includes OOCL, ANL, Zim Israel Navigation, China Shipping Container Lines and other carriers.
“New tonnage is still coming into the over-supply sector,” a spokesman for Yang Ming said.
Meanwhile, OOCL, ANL, Zim and China Shipping announced that they will revise their Asia/Australia services in May.
They will provide two weekly services. The North Asia service will call at Sydney, Melbourne, Brisbane, Yokohama, Nagoya, Osaka, Busan and Keelung. The East Asia loop will cover Sydney, Melbourne, Brisbane, Kaohsiung, Hong Kong, Shanghai and Chiwan.
Yang Ming said that it plans to re-enter the trade when the market has stabilized and the gap between supply and demand has narrowed.