CKYHE Alliance Reshuffles European Service Network
- Business & Finance
The pan-Asian container shipping alliance CKYHE Alliance, comprising COSCON, “K”Line, Yang Ming, Hanjin and Evergreen Line announced that the members were reorganizing their service network for Asia-North Europe and Asia-Mediterranean trades in 2016.
The reorganization comes as a counter measure to overcapacity issues coupled with feeble demand with the aim of “enhancing service efficiency, providing stable transit time and offering more flexible port-pair options.”
The new organization will see one Asia-North Europe service cut and one Asia-Mediterranean service added when compared to the previous structure announced in February this year.
Under the new arrangement, CKYHE Alliance said it would provide five Asia-North Europe services (NE2/NE3/NE5-CEM/NE6/NE7) and four Asia-Mediterranean services (MD1/MD2/HPM-MD3/FEM), boosting its port coverage throughout Asia, North Europe, East Mediterranean, and West Mediterranean region from end of March of 2016.