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  1. Hapag-Lloyd unveils big new shipping alliance to start in 2017

Hapag-Lloyd unveils big new shipping alliance to start in 2017

German container shipping firm Hapag Lloyd on Friday announced a new international shipping alliance which is due to start up in April 2017 for initially five years, spanning 18 percent of global container fleet capacity.

By: | Frankfurt | Published: May 13, 2016 12:13 PM
  Hapag Lloyd News,  Hapag Lloyd Latest News, Hapag Lloyd Shipping The group, called THE Alliance includes big Asian and European companies in the latest push for economies of scale in the troubled industry. (Reuters)

German container shipping firm Hapag Lloyd on Friday announced a new international shipping alliance which is due to start up in April 2017 for initially five years, spanning 18 percent of global container fleet capacity.

The group, called THE Alliance includes big Asian and European companies in the latest push for economies of scale in the troubled industry.

It will bring together Hamburg-based Hapag-Lloyd, Japan’s trio Nippon Yusen Kaisha (NYK), Kawasaki Kisen Kaisha (“K”-Line) and Mitsui OSK Line (MOL) with South Korea’s Hanjin Shipping, and Taiwan’s Yang Ming Marine Transport.

Separately, Hapag-Lloyd is in ongoing merger talks with the United Arab Shipping Company (UASC), with view to that company also joining the alliance later.

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