Friday, May 8, 2015

Container Line Launches New South East Asia Freight Service

Buoyant Local Market Spurs Investment
Shipping News Feature

SOUTHEAST ASIA – In light of the increasing capacity demand, Taiwan’s largest container shipping firm, Evergreen Line will launch a new service dedicated to the Southeast Asia freight trade. In addition to providing efficient transportation services within its port coverage, the Vietnam-Singapore-Malaysia service (VSM) will also connect to Evergreen's global freight service network via its transhipment hubs in Singapore and Tanjung Pelepas.

The dedicated feeder loop will utilise two A-type containerships of 1,164 TEU, the Ever Alley and the Ever Apex. The first sailing of the weekly service will start from Haiphong on May 10 and call at Ho Chi Minh City, Port Klang, Singapore, Tanjung Pelepas and then back to Haiphong.

Economic forecasts indicate strong momentum of trade growth in this region. According to the IMF's World Economic Outlook report published in April 2015, the ASEAN economy looks set to grow by 5.2% and 5.3% respectively in 2015 and 2016, surpassing its performance of 4.6% last year. Besides, the statistics of Vietnam's General Statistics Office show that its economic growth reached 6.03% in the first quarter of 2015, the highest first quarter performance during the past five years. The positive indicators support expectation of steady cargo growth within intra-Asia trade.