HMM consolidates All Water service

Hyundai Merchant Marine is building up services between Asia and the East Coast of North America.
The New World Alliance (TNWA) in which HMM has been a member along with APL and MOL, revealed Nov. 12 that it will replace nine 3,200 TEU vessels in the trade with eight 4,000 TEU vessels. This exchange will improve the vessel capacity by 30% and shorten transit times at every port, upgrading service quality, said HMM. The All Water Service route has been regarded as less important than the Asia-West Cost of North America. It is difficult for larger vessels to make the journey through Panama Canal and transit times are relatively long.
However, the strike on the US West Coast pushed shipping companies to choose alternative routes in September 2002. In addition, a newly opening logistics complex along the East Coast of North America helped companies to improve services in the route.
Cargo shares in the trade are expected to rise to 21% from 16% for all cargoes in Asia-North American trades this year.
HMM said that it expects profitability to improve and will meet customer needs by increasing trade capacity and service quality as the container market is showing some favorable conditions.