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COSCO and its Hong Kong OOCL subsidiary have boosted their position in trades out of India with the launch of a new direct connection to the US east coast via Suez.
The new weekly AWES service will rotate through Singapore, Laem Chabang, Cai Mep, Mundra, the Suez Canal, New York, Norfolk, Boston, Suez Canal, and back to Singapore over 70 days, reports New York's Journal of Commerce.
The move brings additional capacity into the market as other established carriers in the same trade lane struggle to find enough cargo to fill export space allocations for India, sending rates back to a near pre-pandemic trendline.
The joint string has been designed with 10 vessels of 4,250 TEU each, with Cosco contributing six vessels and OOCL phasing in four ships.
The first sailing out of India is the Gottfried Schulte, to arrive in Mundra on January 23.
The AWES itinerary is yet another example of liners' increasing network consolidation at Mundra for the Indian leg, a single-port call strategy that, arguably, helps them save on marine dues a long-time industry concern for direct Indian calls.
Recently, Mediterranean Shipping Co (MSC) removed a second Indian stop at Mumbai's Nhava Sheva Port (JNPT) from its INDUS 2 (India-Mediterranean-US) loop. In a different approach, the Indamex 2, a complementary India-USEC string Hapag-Lloyd and CMA CGM jointly opened in September 2021 in parallel with the INDUS 2 launch, began calling on Saudi Arabia's Jeddah Port this month to tap regional transshipment cargo amid falling Indian gateway volumes.
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