Executive Briefings

Shipping Alliance Would Encompass 18 Percent of World's Container Fleet Capacity

German container shipping company Hapag-Lloyd has announced a new international shipping alliance which is due to start up in April 2017 for initially five years, spanning 18 percent of global container fleet capacity.

The group, called THE Alliance, includes big Asian and European companies in the latest push for economies of scale in the troubled industry.

It will bring together Hamburg-based Hapag-Lloyd, Japan's trio Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha ("K"-Line) and Mitsui OSK Line (MOL) with South Korea's Hanjin Shipping, and Taiwan's Yang Ming Marine Transport.

Separately, Hapag-Lloyd is in ongoing merger talks with the United Arab Shipping Company (UASC), with view to that company also joining the alliance later. UASC would increase the overall alliance capacity to over four million TEU.

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The group, called THE Alliance, includes big Asian and European companies in the latest push for economies of scale in the troubled industry.

It will bring together Hamburg-based Hapag-Lloyd, Japan's trio Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha ("K"-Line) and Mitsui OSK Line (MOL) with South Korea's Hanjin Shipping, and Taiwan's Yang Ming Marine Transport.

Separately, Hapag-Lloyd is in ongoing merger talks with the United Arab Shipping Company (UASC), with view to that company also joining the alliance later. UASC would increase the overall alliance capacity to over four million TEU.

Read Full Article