CSAV shelves FE-USEC services as market conditions wobble

CHILE`s Compania Suramericana de Vapores (CSAV) has shelved its two Far East-US East Coast (AMEX) services that were losing money because of "unfavourable market conditions," including lower freight rates and higher bunker fuel prices.

The carrier operated the AMEX 1 loop itself, while it would have offered the second loop, AMEX 2, by purchasing container slots on CSCL`s AAE-1 service with the first CSAV sailing scheduled to depart from Shanghai on March 21, reports Alphaliner.


The last sailing on the AMEX 1 was due to depart from Busan on the same day. This loop offered a weekly capacity of 4,020 TEU, and deployed 10 ships ranging in size from 3,500-4,250 TEU.


The report said the Chilean carrier commenced the AMEX 1 in May 2010 after abandoning the trade route for 10 months.


"CSCL is expected to continue the existing AAE-1 service which is ensured jointly with Evergreen, which deploys 10 ships between 4,000-4,250 TEU, and with its existing slots on Evergreen`s NUE loop and Zims` ZCS service," it said.


The carrier is, however, expected to continue to operate its Asia-US West Coast service, ASIAM.