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Maersk Line launches new transpacific service in wake Hanjin disruption

Maersk Line launches new transpacific service in wake Hanjin disruption
In the wake of disruption caused by the collapse of Hanjin Shipping, Maersk Line is launching a new transpacific service utilising out of favour traditional panamax sized vessels.

It what would appear to be the first new service to meet the needs of shippers left stranded by Hanjin’s receivership Maersk will be launching a new service connecting Busan and key China ports Los Angeles/Long Beach in just eight days time.

The new TP1 service will call Yantian, Shanghai, Busan, Los Angeles/Long Beach with the first sailing scheduled for 15 September as part of its 2M network with Maersk’s alliance with MSC.

“We are responding to increased demand in the Transpacific. With supply chains disrupted, many customers are approaching us for transport solutions for their cargo,” said Klaus Rud Sejling, head of Maersk Line’s east-west network.

“The TP1 service is a stable, long term solution to meet our customers’ needs.”

A Maersk spokesman confirmed to Seatrade Maritime News that the supply chain disruption referred to the bankruptcy filing by Hanjin Shipping.

Hanjin’s bankruptcy has left hundreds of thousands containers stranded not just on Hanjin’s ships around the world, but also for export ahead of the Christmas season, particularly in Korea where it had 7% market share of containerised exports.

Interestingly Maersk is deploying six 4,000 teu, out of favour traditional panamax vessels on the service. The Maersk spokesman said its contribution to vessels in the service would come from a mix of charters and from its own fleet.

Traditional panamax vessels of 4,000 - 4,500 teu have seen all time low charter rates recently, and many are laid-up or idle in the wake of opening of the expanded Panama Canal in late June.