Thursday, May 8, 2014

Chinese Container Shipping Lines Sign Freight Agreements

State Owned Outfits Commence Joint Operations
Shipping News Feature

CHINA – JAPAN – In an effort to remain competitive on Sino-Japan ocean freight trade routes, Chinese shipping lines have reached two separate co-operative agreements. The first contract, signed earlier this week, will see the three state owned shipping companies, COSCO, CSCL and Sinotrans, commence joint operations later this month whilst the second alliance, involving SITC Container Lines and HASCO, will begin on May 9.

COSCO controlled Shanghai Pan Asia Shipping, CSCL controlled Shanghai Puhai Shipping and Sinotrans have agreed to add capacity and share routes in operations at the ports of Shanghai, Qingdao and Dalian in order to eliminate competition and maximise benefits.

Meanwhile, SITC and HASCO will start the first phase of their cooperation this week, covering two Shanghai/Taicang -- Kanto services, five Shanghai/Taicang -- Kansai services, three Shanghai/Taicang -- Kyushu services and deploying eleven vessels in total.