Shipping line suspends bookings after Chinese New Year leads to trade imbalance between Europe and Asia.
Danish shipping giant Maersk Line is no longer taking bookings for cargo travelling from northern Europe to Asia owing to insufficient vessel capacity.
According to a statement from the company the move comes in light of a large number of consecutive cancellations of vessels travelling from Asia to Europe during Chinese New Year.
"The booking stop is temporary and we are working to clear it as soon as possible so that we can resume booking acceptance as usual. Based on the current situation, an early estimate is for the backlog to be cleared by early May," the statement declared.
"We are implementing this complete booking stop to ensure we prioritise and deliver on the bookings we have already accepted. By implementing this booking stop, we take action to resolve the situation as soon as possible," continued the statement.
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