Maersk Line and its partner, Mediterranean Shipping Company (MSC), in the 2M alliance were far too late out of the gate with their suspension of sailings between Asia and North Europe on the so-called AE-9/Condor string as part of the industry's attempts to curb the protracted rate war on container routes between the two parts of the world.
While the three rival alliances suspended sailings earlier in the summer, hoping to adjust the current overcapacity, especially due to the new mega ships, to the declining demand on these key trades, an imbalance that has triggered the record-low rate level, the 2M alliance remained passive throughout the two summer months of July and August, reports analyst agency Alphaliner.
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