2M voids one in five voyages in second quarter
Date: Thursday, April 2, 2020
Source: Shipping Watch
Sliding demand forces container alliance 2M, which consists of Maersk Line and MSC, to void more than one fifth of its voyages between Asia and Europe as well as Asia and the Mediterranean in the second quarter of 2020, reports Sea-Intelligence.
The corona crisis hits container alliance 2M as it puts a halt to demand.
As such, the alliance voids 21 percent of its sailings between Asia and Europe as well as Asia and the Mediterranean in the second quarter of 2020, writes analyst firm Sea-Intelligence.
According to the firm, the voided sailings indicate that the alliance expects a big decrease in demand in the coming weeks.
With the many cancellations, the alliance, which consists of Maersk Line and MSC, becomes the one of the three major alliances that has voided the most sailings.
Even though the cancellation percentage at the remaining alliances, The Alliance and Ocean Alliance, is lower, Sea-Intelligence expects that these alliances will also be forced to void sailings in the coming weeks.
Similarly, Sea-Intelligence also expects that the Transpacific services will be hit by voided sailings in the coming weeks, due to the slide in demand.