CARRIERS FINALIZE SLOT SHARE DEAL IN ASIA/NEW ZEALAND TRADE

CARRIERS FINALIZE SLOT SHARE DEAL IN ASIA/NEW ZEALAND TRADE    China Ocean Shipping Co. and the member carriers of the New Zealand Eastern Shipping Committee Nippon Yusen Kaisha, Mitsui O.S.K. Lines and P&O Swire Containers Ltd. have finalized details of a mutual slot share arrangement for two services in the Asia/New Zealand trade. The arrangement is expected to commence in February.
   The two services involved are COSCO’s JAU service and the joint fortnightly New Zealand Express Unit service of NYK, MOL and P&O Swire. Currently, the JAU is a weekly service utlizing six vessels. The slot charter deal will see the JAU discard three ships and the sailing frequency will drop to fortnightly.
   Once the rationalization is in effect, both services will combine to provide weekly calls at Kobe, Busan, Hong Kong, Auckland, Lyttelton and Tauranga.
   The fortnightly NZUE service will have a port rotation of Tokyo, Nagoya, Kobe, Moji, Busan, Keelung, Hong Kong, Auckland, Wellington, Port Chalmers, Lyttelton, Napier, Tauranga, Auckland, Tokyo, Nagoya, Kobe, Moji, Busan and Keelung.
   The fortnightly JAU service will call at Yokohama, Kobe, Busan, Hong Kong, Auckland, Lyttelton, Nelson, Tauranga, Auckland, Yokohama, Kobe, Busan and Hong Kong.
   The carriers will retain independent control for all sales, marketing and pricing decisions.
   Tasman Orient Line takes space from P&O Swire on the NZUE and it has confirmed that it will extend the arrangement for the JAU service.
   In a separate development, effective from the end of January, Norske Skog has sold its 57-percent shareholding in Tasman Orient Line to China Navigation Co. and German shipowner C.F. Ahrenkiel. CNCo is the shipowning and operating subsidiary of the Swire Group.