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All the smaller and new container shipping companies that launched Asia-North America services during the pandemic have left the market.
Source: https://createsend.com/t/d-83D9E15B40DA591D2540EF23F30FEDED
And, with the three vessel-sharing alliances upgrading Asia-North Europe loops to accommodate the delivery of newbuild 24,000 teu ultra-large vessels, it is difficult to foresee any uptick in spot rates over the coming weeks.
Source: https://gcaptain.com/liner-bear-market-looms-as-rates-continue-to-tumble/