Safmarine withdraws from Far East-Europe trades

Time:2010-03-31 Browse:42 Author:RISINGSUN

AP MOLLER-Maersk subsidiary Safmarine has announced it will terminate all Asia-Europe services, citing a desire to focus instead on its core continental lines from the Middle East, Africa, and the Indian subcontinent.
The cessation will apply to all Asia-Europe strings, including those to Iberia, Northwest Europe, the Balkans, Eastern Europe, and Italy. Asia-Africa lines meanwhile will remain unchanged, American Shipper reported.
Safmarine will ship its final Asia-Europe deliveries by June 30, though large accounts subject to contractual obligations would undergo a phased withdrawal through till the end of the year.
The withdrawal was not unexpected as the company said last summer it wished to cease transpacific operations due its inability to secure a profit.