Grand China Shipping Bails Out of Trans-Pacific TradeCreated by HButler on 10/31/2011 4:32:41 PM
Grand China Shipping (GCS) has announced that it is suspending its trans-Pacific (SPX) service.
The carrier cited increased fuel costs as well as weakening economic conditions, which it believes will preclude a rapid, sustainable recovery. It is thus opting to focus on its core trade lanes, both intra-Asia and domestic.
The final eastbound sailing from China to the U.S. West Coast will be the Cape Madrid, voy. 1107E, departing Yantian on Nov. 5, Xiamen on Nov. 7, Ningbo on Nov. 9, and Shanghai on Nov. 10. GCS said that all cargo booked and loaded for this vessel will be delivered to the final destination in North America without disruption. The carrier also called for empty containers not used in that voyage to be returned to its container depots in the Chinese ports noted above.
The return journey of the Cape Madrid, voy. 1107W, will be the final westbound trip in ther service. The ship is scheduled to depart Long Beach on Nov. 25th, arriving in Yantian on Dec. 10, Xiamen on Dec. 11, Ningbo on Dec. 13, and Shanghai on Dec. 14. Again, GCS indicated that it expects to deliver cargo in China without interruption.
U.S. carrier Horizon Lines is also ending its trans-Pacific service, with the final eastbound sailing from Shanghai scheduled to depart Nov. 2.