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Maersk halts Europe-Asia bookings

Maersk has suspended bookings on North Europe-to-Asia routes as it struggles with a backlog of shipments that has left terminals close to full capacity.

It may be May before the backlog is cleared. It is the result of increased demand coupled with service cuts by other lines, the company has stated.

"Terminal density at some ports is nearing yard capacity," the shipping line has said. "If bookings are not halted, this could negatively impact productivity, further slow down carriersí ability to clear the heavy backlog/overflow and impact other trades."

Other shipping lines have halted bookings on the route until May, Maersk said, citing customers, after operators pared capacity earlier in the year because of slower Asia-Europe demand and efforts to pare losses. Demand for Europe-Asia shipments has also withstood rate increases in February, March and one planned for April, Maersk said.

Source: www.bloomberg.com

Publication date: 3/23/2012


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