News / 2M Alliance axes Asia-Black Sea service due to low demand and ever-lower rates

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With container spot freight rates between Asia and the Mediterranean hitting new lows last week of less than $200 per teu, the 2M alliance of Maersk Line and MSC has reacted by culling a Black Sea service next month.

MSC/Maersk announced the withdrawal of their Great Sea service/AE3 loop this morning, due to “market circumstances”.

The Geneva-headquartered carrier said “while current demand is not sufficient to meet the costs of running a dedicated service” it would cover its commitments via a relay ...