Mediterranean Shipping joins TSA

Mediterranean Shipping joins TSA Mediterranean Shipping Co., which operates as an independent carrier in many trades, said it will join the Transpacific Stabilization Agreement discussion agreement for container carriers serving the eastbound transpacific trade.
   MSC is the world’s second-largest container line, operating 326 ships with a combined ship capacity of 1.06 million TEUs. It offers three scheduled transpacific service strings, with additional intra-Asia feeder services.
   Its announcement comes on the heels of a decision by CMA CGM — the world’s third-largest container carrier — to join TSA in January.
   “We’re very pleased to have MSC become a part of TSA,” Ron Widdows, president and chief executive officer of American President Lines, who acts as TSA chairman. “They are a formidable global competitor, with a sizable and growing stake in the transpacific market. We look forward to their participation as TSA continues its efforts to bring improved visibility to market, operational and cost information, and to engage customers on service and pricing issues as well as the broader dynamics affecting the Asia-U.S. cargo market.”
   TSA said the carrier would join TSA, effective sometime in mid-May once a 45-day filing notification period with the U.S. Federal Maritime Commission has concluded.
   TSA members are American President Lines, CMA CGM, COSCO Container Lines, Evergreen, Hanjin Shipping, Hapag Lloyd, Hyundai, 'K' Line, Mitsui O.S.K. Lines, NYK Line, OOCL and Yang Ming.