By Mike Wackett (The Loadstar) - South Korean carrier Hyundai Merchant Marine (HMM) is to join THE Alliance when its slot charter agreement with the 2M expires next April. HMM will become the fourth member of the vessel-sharing group, joining Hapag-Lloyd, ONE and Yang Ming. An agreement signed last week also saw the founding members extend the duration of their alliance … [Read more...]
London Gateway Set to Lose Asia-Europe Service as THE Alliance Revamps Network
By Gavin van Marle (The Loadstar) - London Gateway is to lose one of its much-prized Asia-Europe services next year after THE Alliance partners unveiled their network plans for 2018. The grouping’s five Asia-North Europe services will remain largely unchanged, other than in the UK where one call has been switched from London Gateway to Southampton. However, the switch … [Read more...]
Lack of Ultra-Large Containerships Could Cost THE Alliance Members
By Mike Wackett (The Loadstar) - THE Alliance could find itself on the wrong side of a $500 per teu cost differential on the key Asia-North Europe trade due to its members’ failure to order more ultra-large container vessels (ULCVs), according to new analysis from Alphaliner,. Recently confirmed orders for nine 22,000 teu ULCVs by CMA CGM (Ocean Alliance) and 11 similar … [Read more...]
U.S. Federal Maritime Commission Applauds THE Alliance’s $50 Million Contingency Plan
By Gavin van Marle (The Loadstar) The US Federal Maritime Commission (FMC) yesterday approved THE Alliance’s plan for a $50m contingency fund in case one of its members becomes insolvent or suffers serious “financial distress”. Each of THE Alliance’s members – Hapag-Lloyd, MOL, NYK, K line and Yang Ming – are to contribute an initial $1m and a further $9m in “additional … [Read more...]
Shippers Draw Up Contingency Plans as New Shipping Alliances Launch
By Gavin van Marle & Mike Wackett (The Loadstar) - As the new alliance structure prepares to get underway tomorrow, with the Ocean and THE alliances launching services, shippers and forwarders are preparing for the possibility of severe supply chain disruption. The drawing up of contingency plans was in part due to a growing sense of unease that shipping lines did not … [Read more...]