Trade News - Seaborne

Yang Ming Line (YML) increases intra-Med coverage

Yang Ming Line (YML) shall launch its second East Mediterranean feeder service nextmonth, connecting hub port, Port Said with Istanbul, Haydarpasa, Izmir andAshdod deploying two 1,800 teu vessels.

Hyundai bumps up Asia/Europe capacity

Hyundai Merchant Marine (HMM) is to start deploying 8,560 teu vessels on its Asia/Europe Express (AEX) service to replace 6,800 teu vessels from late February 2009. In what is an unusual move given the present market conditions, HMM will begin phasing in the larger vessels as replacements for those of 6,800 teucapacity with the first of a class of four newbuildings chartered from Zodiac Maritime on February 24th.

Charleston reduces rates

The South Carolina State Ports Authority (SCSPA) is to reduce rates at Charleston through the mid-Winter period by 5% to "provide near-term reliefto customers impacted by the current global economic situation", the Authority announced. The reduction will run between January 1st and March 31st 2009 and cover contract unit fees for container carriers. The SCSPA also confirmed today that in the first five months of fiscal 2008 (July/November), container volumes were down 4% on the same period last year

Source: PR News (Copy 5831, 5832, and 5833)