Cosco is selling 1,500-TEU slots a week to Pacific International Lines (PIL) and Wan Hai from its fleet's eight 10,000-TEU ships assigned to its Asia-Northwest Europe (AES) loop from the first week in December, reports Xinhua.
PIL and Wan Hai will suspend their co-operated FES service when the plan is implemented. Under the plan, Cosco hopes to cope with the severe market shrinkage in fourth quarter and into 2009. The company says it can save operating cost and increase utilisation by selling slots to rivals.
In this way, Cosco aims to control operating risk by coordinating some main and feeder services and by cutting Europe-US capacity.
PIL and Wan Hai will suspend their co-operated FES service when the plan is implemented. Under the plan, Cosco hopes to cope with the severe market shrinkage in fourth quarter and into 2009. The company says it can save operating cost and increase utilisation by selling slots to rivals.
In this way, Cosco aims to control operating risk by coordinating some main and feeder services and by cutting Europe-US capacity.