HANJIN, ?K? LINE ENTER SPACE CHARTER AGREEMENT

HANJIN, “K” LINE ENTER SPACE CHARTER AGREEMENT    Japan’s “K” Line and Korea’s Hanjin Shipping Co. have entered a space charter agreement covering the U.S./Asia trade.
   Under the agreement, “K” Line will charter space for 250 TEUs on each of Hanjin’s 13 ships operating in a weekly service calling ports in South China, the Hong Kong/Japan range, the New York/Savannah/U.S. Gulf range and the Long Beach/Mexico/Panama range.
   The agreement also permits the carriers to coordinate sailings and vessels, and cooperate in the use of equipment, terminals, stevedores, ports and suppliers. The agreement does not permit a joint service, the discussion of rates, or the pooling of cargo and revenue.
   Pending Federal Maritime Commission clearance, the agreement is scheduled to go into effect by March 31.