HANJIN, YANGMING (UK) ENTER SLOT ALLOCATION AGREEMENT

HANJIN, YANGMING (UK) ENTER SLOT ALLOCATION AGREEMENT    Hanjin Shipping Co. Ltd. and Yangming (UK) Ltd. have entered an agreement allowing each part to purchase slots for 150 TEUs on each other’s vessels in the U.S. West Coast/Asia trade.
   Yangming (UK) will provide five vessels of approximately 5,500-TEUs of capacity, while Hanjin will provide two vessels of approximately 5,000 TEU and 10 vessels of about 4,500 TEUs on the weekly service.
   The agreement also provides for the coordination of sailings and vessels, and the cooperative use of equipment, terminals, stevedores, ports and suppliers. The agreement does not permit a joint service, discussion of rates, or the pooling of cargo and revenue.
   The Federal Maritime Commission is reviewing the agreement.