Rival box carriers from the Grand Alliance and New World Alliance have joined forces on the Asia-West Mediterranean (EUM) trade lane.
Rival box carriers from the Grand Alliance and New World Alliance have joined forces on the Asia-West Mediterranean (EUM) trade lane with a scaled down service that halves the number of vessels on the route.
This latest capacity cut back, in response to a rapid fall in global container volumes, sees Grand Alliance carriers Hapag-Lloyd, MISC, NYK, and Orient Overseas Container Line team up with APL, Hyundai Merchant Marine and MOL from the New World Alliance.
The shipping lines will deploy eight 6,000 teu capacity vessels on the joint service from December 23. The companies previously had a total of 16 ships on the route, Orient Overseas"s chief financial officer Ken Cambie told.
The NWA will provide two ships and the GA will provide six ships. Chiwan will be added to the existing EUM service, and the new rotation is Busan, Shanghai, Ningbo, Chiwan, Shekou, Hong Kong, Singapore, Port Klang, Jeddah, Damietta, Genoa, Fos, Barcelona, Valencia, Damietta, Singapore, Hong Kong, Busan.
A joint statement by the carriers said: ?The service changes have been made to ensure a stable service network and to provide better coverage for our customers.?
The cooperation between the lines, which belong to two groupings, mirrors moves made earlier in the month to curb excess capacity on routes to the US east coast.
Global trade will probably grow 4.1% in 2009, the slowest pace in seven years, according to the International Monetary Fund.