SIMIC

The carrier operated the service within its Vehicle Service Agreement (VSA) agreement with the 2M Alliance.

Zim deployed nine 5,400 to 6,600-TEU ships on the pendulum service, with 2M partner Maersk providing one vessel and MSC not contributing tonnage.

In addition, the service also called at Cai Mep, Vietnam and Shenzhen¡¯s Yantian terminal, before transiting the Panama Canal and calling at Charleston, Savannah and New York, and returning to Asia via Suez.

Meanwhile, according to John McCown's October analysis of the top 10 container ports in the US, import volume at east and Gulf coast ports grew 4.3 per cent in October to 1,111,131 TEU.

"October's overall inbound volume of 1,916,458 TEU was the lowest since February 2021 and the second-lowest since July 2020," said Mr McCown.

Regardless, Platts' PCR5 Asia to US east coast component fell 12 per cent on the week, to US$3,700 per FEU.

During Zim's Q3 earnings call, Zim CFO Xavier Destriau admitted that on some transpacific services, the breakeven point "had already been crossed."

"We intend to be profitable in the trades where we operate, and we don't wish to sail capacity at a loss," said Mr Destriau.