Maritime data provider Alphaliner said in a report Wednesday that shipping lines have withdrawn vessels with capacity totaling about 3 million containers in efforts to conserve cash and maintain freight rates. Alphaliner, based in Paris, said more than 250 scheduled sailings will be canceled in the second quarter alone, with up to a third of capacity taken out in some trade routes. The biggest cutbacks so far have hit the world’s main trade lanes, the Asia-Europe and trans-Pacific routes. “No market segment will be spared, with capacity cuts announced across almost all key routes,” the report said. “While the larger ships will be cascaded to replace smaller units on the remaining strings, carriers will be forced to idle a large part of their operated tonnage.” The cutbacks are hitting the network of businesses, from ship-financing to vessel-leasing companies, behind maritime supply chains. Newsletter Sign-up The Logistics Report Top news […]