COSCO to end slot charter deal with Grand Alliance in U.S. Gulf/Europe trade
COSCO Container Lines said it will end its slot charter arrangements in the U.S. Gulf/Europe trade on the weekly Grand Alliance GASS and SGX services in February.
COSCO said the decision was prompted by P&O Nedlloyd’s takeover by A.P. Moller-Maersk and subsequent withdrawal from the Grand Alliance.
It is still unclear whether COSCO’s CKYH alliance partners, “K” Line, Yang Ming and Hanjin Shipping, will continue to take space on the GASS and SGX loops.
“COSCO intends to continue offering a service to/from the US Gulf to Europe and are exploring many options to continue this service. We should have a decision on this matter, sometimes in the beginning of January,” COSCO said.