In an effort to try and recover massive losses made by all the Shipping Lines over the last few months, carriers have or are in the process of reducing the tonnage on the market by around 20% over the winter period.

The CHKY alliance reduced services by 20% during October. The Grand Alliance members have announced this week that they will operate 3 instead of 4 services to Europe and Maersk Line are also cutting capacity. Along with MISC pulling out of the Asia to Europe market totally prior to Christmas, this will continue to keep space at a premium at least until Chinese New Year.

Based on this most carriers are expecting to increase rates by up to US $250 per 20ft container during December, as well as extending the Peak Season Surcharge indefinitely.