2M partners Maersk Line and Mediterranean Shipping Company (MSC) have found a new South Korean shipping line to team up with on the transpacific trade lanes. The new tie up with SM Line comes before the April 1 departure of former partner Hyundai Merchant Marine (HMM) who is joining rival THE Alliance.
In a note to clients, MSC explained the partnership with SM Line is not linked to 2M, reported Singapore's Splash 247.
"The new agreement with SM Line is separate from the 2M vessel sharing
agreement between MSC and Maersk, and the services of 2M and SM Line
will complement each other. It consists of a combination of slot
exchanges and slot purchases among the three parties - MSC, Maersk and
SM Line - and it is subject to regulatory approval," MSC stated.
The SM tie-up specifically will give MSC and Maersk greater access to
the Pacific northwest, while allowing SM more slots to California.
The agreement between 2M and ZIM in the Pacific northwest region remains in full effect.
SM Line was launched three years ago by Samra Midas Group, after
snapping up many of the assets of collapsed Hanjin Shipping. Samra
Midas, best known in Korea for its construction activities, also owns
Korea Line Corporation.
SM Line has just put several of its 6,000-TEU ships up for sale, vessels
that had been deployed on the carrier's Pacific southwest (PSW) service
linking Asia with Los Angeles.
Commenting on the news, Andy Lane from Singapore's CTI Consultancy, said
teaming up with Maersk and MSC was a logical move for SM Line.
"It was always going to be difficult for SM Line to operate solo on
these trades in terms of unit costs, product diversity and utilisation
of assets. It therefore makes perfect sense for them to share services
with 2M, which will undoubtedly be win-win," Mr Lane said.
SM Line is expected to continue to operate its 4,500-TEU ships on its
Pacific northwest service calling Vancouver, Portland and Seattle, with
2M expected to take some space.
http://www.shippingazette.com/menu.asp?encode=eng
|
Back:
Next:
