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Ocean Three in major reduction on Asia-Europe

Historically low rates on the container services from the Far East to Europe are now making the Ocean Three members pull out 20 percent of their capacity on the important trade, according to Alphaliner.

The three carriers of the Ocean Three alliance, CMA CGM, CSCL and UASC , have opted to pull out a considerable part of their capacity on the significant trade route between Asia and Europe due to record low rates, writes Alphaliner.

The three carriers will reduce capacity on the route by about 12,000 twenty-foot containers (teu) per week, which corresponds to about 20 percent of O3's total capacity and about 4 percent of the capacity on the entire route. This will be done by the carriers dropping one of their four weekly departures between Asia and Europe over the next 12 weeks.

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