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The Danish ocean carrier will alter its ME2 and ME3 loops between the Mediterranean and the Middle East and Indian Subcontinent this month.
The Japanese ocean liner carriers and three executives at the companies allegedly conspired to fixed prices on roll-on/roll-off cargo, according to the U.S. Department of Justice.
Data from BlueWater Reporting illustrates how the termination of the ME5 service will decrease the Danish carrier's weekly deployed capacity from the Mediterranean to the Middle East by 12.2 percent.
The Israeli ocean carrier recently returned to the black, posting adjusted net profits of $23 million in the second quarter of 2015 compared with a net loss of $50 million the previous year.
With more tonnage to be delivered next year, London-based shipping consultant Drewry says "the overhang of excess capacity [in the ocean freight industry] will be even greater than that experienced in 2009."
Capacity growth was relatively stagnant across the three major east-west trades in the third quarter of 2015, as slowing global trade and an economic recession in China caused volumes to remain weak even during the summer peak shipping season.