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Trans-Pacific Vessel Sharing agreement with Mediterranean Shipping Company and CMA-CGM
Maersk Line is pleased to announce the establishment of a new Vessel Sharing Agreement (VSA) with Swiss carrier Mediterranean Shipping Company (MSC) and French-based CMA-CGM in the trans-Pacific trade that will commence in April 2008.
This cooperation will consist of three strings of five vessels each between Asia and North America. They will replace Maersk Line's TP5 and TP8, MSC's New Orient Express and CMA-CGM's Yang Tse Service.
"Rates have not supported our cost to serve on different products in the Pacific. We felt that a partnership of this sort would not only enable us to address our cost structure, but also to provide a dynamic enhanced product for our customers, without adding any capacity on the market. commented Vincent Clerc, Vice President of Pacific Route Management for Maersk Line.
The first string of this VSA will serve a port call rotation of Yantian, Kaohsiung, Shanghai, Qingdao, Los Angeles and Hong Kong, with five 8,000 TEU vessels. Four of these vessels will be operated by Maersk Line and the remaining vessel by CMA-CGM.
The first string of the VSA, as the southern loop, is scheduled for its initial eastbound call at Shanghai on 14 April 2008. The first westbound call starts on 29 April 2008 from Los Angeles.
The second string of this VSA will also consist of five 8,000 TEU vessels, four of which will be operated by Mediterranean Shipping Company and one by CMA-CGM. This string will call a rotation of Dalian, Xingang, Shanghai, Ningbo, Los Angeles, Oakland and Dalian. This service is scheduled for its first eastbound call at Dalian on 7 April 2008. The first westbound call is in Long Beach on 27 April 2008.
"Given the rising cost of bunker fuel and the distances travelled, a post-Panamax level of efficiency and cost base is needed in the trans-Pacific."
The third string of this VSA will be created with the redeployment of five 4,000 TEU vessels operated by Maersk Line under the U.S. flag calling the ports of Kwangyang, Busan, Kobe, Shimizu, Nagoya, Yokohama, Los Angeles, and Oakland. MSC and CMA-CGM will participate in this string through a slot agreement. The initial westbound schedule starts 25 March 2008 in Los Angeles. The eastbound schedule starts in Kwangyang on 12 April.
All of these strings will offer an improved eastbound product with shorter transit times out of Northern China and vastly improved westbound products adding non restricted corridors into Kaohsiung, Hong Kong and Yantian for both import and export cargo.
About Maersk Line
Maersk Line is one of the leading liner shipping companies in the world, serving customers globally. More than 550 container vessels and more than 1,400,000 containers ensure its customers a reliable and comprehensive worldwide coverage. Maersk Line is the container shipping arm of the A. P. Moller - Maersk Group which is headquartered in Copenhagen, Denmark and has presence in more than 125 countries, employing in excess of 110,000 employees. The group is mainly involved in container shipping activities including logistics and terminal operation, tankers, oil and gas activities, retail, shipyards and manufacturing activities.
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About Maersk Line
Maersk Line is one of the leading liner shipping companies in the world, serving customers globally. More than 550 container vessels and more than 1,400,000 containers ensure its customers a reliable and comprehensive worldwide coverage. Maersk Line is the container shipping arm of the A. P. Moller - Maersk Group which is headquartered in Copenhagen, Denmark and has presence in more than 125 countries, employing in excess of 110,000 employees.