ASIAN ALLIANCE SEALS ASIA/U.S. EAST COAST AND ATLANTIC COOPERATION

ASIAN ALLIANCE SEALS ASIA/U.S. EAST COAST AND ATLANTIC COOPERATION    COSCO Container Lines, Yang Ming, “K” Line, Hanjin Shipping and its subsidiary Senator Lines have entered into another cooperative agreement as part of their new global alliance.
   The latest pact made by the four Asian carriers and Senator covers the Asia/U.S. East Coast and transatlantic trades, and is called the “COSCON/KL/YMUK/Hanjin/Senator Asia & Europe/U.S. Atlantic & Gulf Coast Slot Allocation & Sailing Agreement.”
   Under the proposed agreement, filed with the Federal Maritime Commission, the carriers will be selling or exchanging container slots and coordinating their services in the trades between U.S. Atlantic and Gulf ports and ports in Asia, Central America, and Europe.
   Together, the carriers are expected to provide three Asia/U.S. East Coast weekly container services via Panama, as well as multiple transatlantic services to and from northern Europe and the Mediterranean.
   In early March, COSCO, Yang Ming, “K” Line, Hanjin and Senator Lines notified another agreement, covering the Asia/U.S. West Coast trade.