Wan Hai-PIL back in Asia/Europe
Taiwanese carrier Wan Hai and Singapore line PIL are reportedly close to re-entering the Asia/Europe trade.
The lines, which suspended their joint FES service on the trade in December 2008, will resume the loop in mid-March, according to a report Monday in Containerisation International.
The service, which hits a bevy of major Far East and northern European ports, will be operated with nine vessels — one more than when it was suspended, to account for slow steaming. The previous rotation was Shanghai, Ningbo, Hong Kong, Shekou, Singapore, Port Klang, Rotterdam, Hamburg, Antwerp, Aden, Port Klang and Singapore.
The two carriers tentatively re-entered the trade in fall through a slot-buying agreement with COSCO Container Lines, a deal that saw them take nearly 700 slots on the CKYH Alliance's NE1 service. That re-emergence coincided with the decision of most major carriers and alliances to drop capacity from the Far East/Europe trade, a move that has helped lines swing the supply/demand balance back in their favor.
Rising rates between Asia and Europe appear to be encouraging enough for Wan Hai and PIL to give it another go. The lines only entered the trade in 2007, when freight rates were through the roof.
Wan Hai-PIL back in Asia/Europe
