On Friday, May 31st, Maersk announced the closure of its Asia-East Coast TP20 route, citing the chain reaction from the current situation in the Red Sea, including delays and capacity restrictions. This necessitates a network reorganization to best meet customer needs. As part of this reorganization, the TP20 route will be gradually phased out.
Final TP20 Departures
According to Maersk's official notice, the last TP20 departure from Asia is scheduled as follows:
ETD Shanghai: June 13, 2024
The final TP20 departure from North America is scheduled as follows:
ETD Newark: July 17, 2024
After these dates, the TP20 route will no longer be available in the market.
Background and Industry Impact
It is noteworthy that the TP20 route, which Maersk is now shutting down, was heavily promoted as a new service in March. On March 20, Maersk announced the reoperation of TP20 from mid-April, directly covering the Greater China region to Newark, Baltimore, and Houston. However, just over a month into its operation, the route is being closed amidst a backdrop of capacity shortages and skyrocketing freight rates. This abrupt closure has led many industry insiders to speculate whether shipping companies are manipulating market capacity to drive up freight rates.
The decision to halt the TP20 service, especially after its recent launch, has sparked considerable discussion and concern within the logistics and shipping sectors. As the market adjusts to these changes, businesses and customers alike are urged to stay informed and adapt to the evolving landscape.
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