EVERGREEN PULLS OUT OF U.S./MEDITERRANEAN TRADE

EVERGREEN PULLS OUT OF U.S./MEDITERRANEAN TRADE    Evergreen Line has suspended its U.S. East Coast/Mediterranean container service, previously operated under a slot charter agreement with Hanjin Shipping and Senator Lines.
   The Taiwanese carrier said that it had progressively run down the scale of its activities on the highly-competitive U.S./Mediterranean route, where freight rates are reportedly non-compensatory.
   A spokesman for Evergreen said that its involvement in the U.S./Mediterranean trade had been minimal, and the carrier may reinstate a service if market conditions improve in the future.
   Evergreen took space between the Mediterranean and the U.S. on the Asia-Mediterranean-America “pendulum” service of Hanjin and Senator.
   Evergreen said that this service has not been profitable.
   Earlier this year, Italia Line terminated its Mediterranean/U.S. East Coast service, blaming non-compensatory freight rates.