A joint venture between Evergreen and Asia Australia Services (AAS), the partnership consisting of shipping groups APL, Hapag-Lloyd, Hamburg Süd and Hyundai Merchant Marine, has seen the formation of a new comprehensive north east Asia/Australia trade network.
The move has been forced by 'significant cost increases' and 'very poor freight rates both south and northbound', according to the groups, Overall net capacity will be reduced by 800 TEU per week, or 3.2 per cent of total trade capacity.
Two fixed-day weekly service loops will call at ports in Japan, China and Australia, the Northern Loop operated with five 3,500 TEU vessels and the Southern Loop with four 2,500 TEU vessels.
The Northern Loop sees port calls at Yokohama, Osaka, Pusan, Qingdao, Shanghai, Ningbo, Melbourne, Sydney, Brisbane and Yokohama. The Southern Loop will consists of calls at Kaohsiung, Yantian, Hong Kong, Melbourne, Sydney, Brisbane and Kaohsiung.
'With this cooperation the four AAS partners together with Evergreen will jointly provide one of the most comprehensive service networks in the trade with two fixed-day weekly service loops,' said Hamburg Süd in a statement.
