Evergreen Line to Tap Into Intra-Asia Trade Growth
- Business & Finance
Ocean carrier Evergreen Line said it will team up with CMA CGM’s intra-Asia carrier Cheng Lie Navigation (CNC) to launch the new China-Philippines Service (CPH).
Two ships of around 1,000 TEU will be deployed on the new weekly service, one each operated by the joint service partners.
Evergreen Line informed that the first sailing on the CPH service will be from Shanghai on the 11th of December and the port rotation will be as follows:
Shanghai – Ningbo – Xiamen – Shekou – Manila (south harbour) – Shanghai.
Commenting on the reasons behind the launching of the new service, Evergreen said that the decision was triggered by a desire to offer a more comprehensive service to shippers and importers in the Philippines.
The new service is in addition to the four feeder loops, which Evergreen offers serving the Philippines.
According to statistics published by China’s General Administration of Customs, the amount of bilateral trade between China and ASEAN (the Association of Southeast Asian Nations) increased by 8.9% during the first ten months of 2014.
In particular, China’s imports and exports to/from the Philippines showed an even stronger growth of 17.1%, the company said.
ASEAN member states have held several rounds of trade talks with China, Japan, Korea, New Zealand, Australia and India for Regional Comprehensive Economic Partnership (RCEP) and aimed to conclude the negotiations by the end of 2015.
As a positive indication of future trade growth, this initiative is expected to significantly benefit the further development of Intra-Asia trades.