Hong Kong’s TS Lines has joined hands with Korea's Hyundai Merchant Marine to launch the CIX string covering Korea, China, Singapore and India, according to shipping industry sources, reported The Hindu.
Deploying five vessels of capacity of 4,250-TEU each, the Far East-India CIX loop calls at Busan, Shanghai, Ningbo, Shenzhen-Yantian, Singapore, Port Kelang, Nhava Sheva, and back to Singapore and Busan.
This string, according to the company, offers shippers a fast and direct service between the Far East and the west coast of India, thus helping expand the China-India network.
The CIX loop can be integrated into TS Lines' existing Asian services as well as its Australia and West Asia strings, making a comprehensive network for the company to move cargo from ports in Taiwan, Japan, Indonesia, Burma, Australia and other Asian points to India, the sources add.
Meanwhile, the German shipping line Hapag-Lloyd, according to market reports, is mulling a further general rate increase of US$250 for a TEU on the Asia-Europe route from August 15 and the revised rate will apply to all shipments.
In addition, it aims to slap a peak season surcharge of $350/TEU for the period from August 1 to September 30.
The shipping line, it might be noted, implemented general freight increase of $400/TEU on the same Asia-Europe route from July 1. Several other major container lines active on the route too have hiked rates from this month.
All news