CKYH Alliance hold 2009 Summit Meeting

CKYH (COSCON, ??LINE, Yang Ming, and Hanjin Shipping) Alliance announced that they held their 2009 Summit Meeting in Jeju, Korea on April 9, 2009.

With the senior management staff of each line present, the Alliance members shared concerns and ideas on market prospects as well as on how to overcome the current crisis in the shipping industry. They all agreed that the key to survival lies in providing customers with distinguished services, which requires even stronger cooperation among the partner carriers.

In this regard, the alliance members discussed various strategies covering 1) rationalization of the existing East-West trades, 2) expansion in the North-South trades and niche markets, 3) utilization of assets such as ships, terminals, etc., 4) cost-savings through common equipment management, feeder networks and contracts with 3rd parties, etc.

CKYH Alliance added that they are planning on holding regular consultations between the top management of each partner carrier to discuss operational issues and responses to meet customer demands in a timely way and maintain top quality services for their customers.

The summary for CKYH service loops as of April, 2009 (East / West trades only) is as follows:
·Asia - Trans Pacific Trade
Asia - North America West Coast Service: 12 loops
Asia - North America East Coast Service: 5 loops
·Asia - North Europe / Mediterranean Trade
Asia - North Europe service: 5 loops
Asia - Mediterranean service: 3 loops
·Trans - Atlantic Trade: 1 loop