EVERGREEN, NEW WORLD ALLIANCE ENTER INTO SLOT EXCHANGE AGREEMENT

EVERGREEN, NEW WORLD ALLIANCE ENTER INTO SLOT EXCHANGE AGREEMENT    Taiwan’s Evergreen Marine Corp. has entered into a slot exchange agreement with New World Alliance members APL, Hyundai Merchant Marine Co. Ltd., and MOL, covering the trade between the U.S. East and West coasts, the Far East and Central America.
   Under the agreement the New World Alliance will purchase about 500 slots on Evergreen's eastbound and westbound round-the-world services. The services are operated with 10 vessels of about 4,000 TEUs each and call ports in California and the U.S. East Coast. APL will purchase about 200 slots, and Hanjin and MOL will purchase 150 TEUs each.
   In Evergreen’s Far East/U.S. East Coast service, APL will be allocated 300 TEUs and Hyundai 200 TEUs for each sailing. The service employs nine vessels averaging 2,800 TEUs each.
   Evergreen will purchase a minimum of 300 TEU slots on the New World Alliance's Far East/ Pacific Northwest service. MOL provides five vessels of about 2,700 TEUs for the service.