News / ASL and Zim reduce Australia exposure after freight rates plummet

ASL Hong Kong. Photo: VesselFinder

Intra-Asia carrier Asean Seas Line (ASL) and Israeli liner Zim are reducing their exposure to the China-Australia tradelane after freight rates plunged to less than 10% of levels a year ago.

China-Australia rates are averaging just $318 per teu, 91% down from $3,712 in April 2022.

ASL is backtracking on its expansion beyond Asian routes, reducing its now loss-making Australia China Express (ACX) – launched just six months ago – to just one ship, the 1,930 teu ASL Bauhinia, which will make ...