Two of the leading container shipping lines, United Arab Shipping Company and Hamburg Süd, announced that they have signed a global cooperation agreement. The need to address logistical imbalances is one of the key drivers behind the agreement.
Initially, Hamburg Süd and UASC have agreed to cooperate on several of their respective core trades. Hamburg Süd will enter the Asia – North Europe and Asia – US trades in December 2014 and January 2015, respectively, while UASC will enter the Europe – South America East Coast and Asia – South America East Coast trades effective from mid-2015. Initially, the cooperation will be in the form of slot exchanges. Both carriers also intend to explore other areas of cooperation going forward.
Further information: www.uasc.net
