Asian Carriers Cut US Shipping Capacity

29 November 2009 (Last Updated November 29th, 2009 18:30)

CKYH, the alliance between COSCON, K Line, Yang Ming and Hanjin Shipping, said it plans to reduce Asia-North America shipping capacity by the end of November following a poor season. K Line said the partners will reduce trading capacity by 10% along the US West Coast and 20% along the E

CKYH, the alliance between COSCON, K Line, Yang Ming and Hanjin Shipping, said it plans to reduce Asia-North America shipping capacity by the end of November following a poor season.

K Line said the partners will reduce trading capacity by 10% along the US West Coast and 20% along the East Coast.

According to reports, the plunging yen has also negatively affected a number of shipping lines, many of which hit a 14-year low against the dollar recently.

The group also cited rising fuel costs as a factor in the reduction plan.

On 5 November CKYH joined other carriers by rising rates to protect maritime activities.