Top > News Releases > New Vessel Sharing Agreement Covering the East Coasts of the United States and South America

April 2, 2004
Kawasaki Kisen Kaisha, Ltd.

New Vessel Sharing Agreement Covering the East Coasts
of the United States and South America

Hanjin Shipping Co., Ltd. (Hanjin), Kawasaki Kisen Kaisha, Ltd. ("K"Line), Mitsui O.S.K. Lines, Ltd. (MOL) and Zim Israel Navigation Company, Ltd. (ZIM) announced today that they will commence a new, jointly-operated service between the U.S. East Coast and the East Coast of South America including ports in the Caribbean.

The new service is expected to commence with sailings in May of 2004, pending the approval of the filing by the Federal Maritime Commission. The new deployment will cover a range of ports on the U.S. East Coast, including New York and Miami, the ports of Kingston-Jamaica, Puerto Cabello-Venezuela, a range of Brazilian ports from Fortaleza to Rio Grande, as well as a direct port call on the River Plate.

Initially, the new service will start with five (5) 1700 TEU class vessels. There are plans to add a sixth 1700 TEU vessel to the deployment soon; adding another vessel to the string will allow the group to offer a fixed-day weekly service. Each party will contribute a minimum of one vessel to the service.

A spokesperson for the group indicated that the parties to the agreement felt that this was an opportune time to participate in the trade lane. Both "K"Line and MOL are entering the U.S. East Coast-South America East Coast trade for the first time. Hanjin and ZIM were previously partners in this trade lane by virtue of their participation in the Independent Carriers Alliance (ICA).

PDF

To read the PDF files, you need Adobe Reader installed on your computer.
If you do not have it, you can get it here.

pagetop