With spot rates on the transpacific to the US West Coast now being banded around for as low as $1,000 per feu, 2M has become the first casualty in the transpacific freight war, just as the summer peak season hoves into view.
Alphaliner is reporting that Maersk and MSC will suspend their Asia to Pacific Northwest route – TP1/Eagle – from July amid overcapacity and declining rates on the transpacific and the ongoing threat posed by a Sino-US trade war.
The last eastbound sailing on this service is due to depart from Busan today. MSC said the service suspension was down to the current “challenging operating environment” on the transpacific.
