Hong Kong's OOCL withdraws 9 October trans-Pacific sailings

Singapore — Hong Kong-listed Orient Overseas Container Line, or OOCL, has withdrawn nine trans-Pacific sailings in October, a statement released on Sept. 3 showed.

These blanked sailings fall on October 3, 4, 5, 6, 9, 10, and 17, which coincide with China's upcoming Golden Week holiday over Oct.1-7.

Earlier, cancelled sailings on the trans-Pacific route were on a decline amid firm demand for space ahead of the Golden Week holiday, which had driven container rates higher.

The North Asia to West Coast North America route, also known as Platts Container Rate 13, was assessed at an all-time high of $3,650/FEU on Sept. 1, since Platts started assessing the route in July, 2017. Platts had attributed the high rates to strong demand for space, including for products such as personal protective equipment from North Asia to the US. There were also concerns of more restrictive lockdown measures that many expect to see come into force in the final quarter of the year as temperatures begin to drop.

OOCL is part of Ocean Alliance, one of three major global container shipping alliances.