Retail needs new services after Hapag-Lloyd, ONE draw more blanks

Cons. Discr. - Retailing 262 Consumer Staples 562 Corp - Shipping 753 Mode - Containerized 1193 Mode - Seaborne 1518 Theme - Alliances 91 U.S. 4297

The container shipping industry looks set to continue capacity discipline down in response to COVID-19 disruptions at least through to early August. Two of the big three shipping alliances, 2M and THE, have cancelled planned sailings from Asia to Europe. THE, led by Hapag Lloyd and Ocean network Express, has also continued to suspend some Trans-Pacific shipping services. THE’s cutbacks are notable given it has performed better than its peers, with U.S. seaborne inbound shipping that fell by just 3.2% year over year in April after a 7.9% slide in Q1. It’s suspensions, also known as blank ...

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