We have just received information this afternoon that the AADA member lines have agreed on a rationalisation program which will take place as quick as 28 August 2010.
The HSUD/MAERSK/APL/HMM/EMC/HALO peak season loader loop will be cancelled. This equates to around 2500 TEU’s per week less capacity (-8%).
HSUD & HMM will enter into a slot swap program with ACE/AANA loops (CSCL/ANL/OOCL) and APL will do the same with NEAX (NYK/MOL/KLINE).
The current average utilisation is around 85% so the rationalisation and expected increase in demand will get it close to 100% which is expected to support the Peak Season Surcharge announced for the 01 September. If the rationalisation takes effect as per above then we expect Rate Restoration to be applied mid/late September.
Please be advised that this information has not been broadcast by the carriers as yet.