CKYH plans more cooperation
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The four carriers in the CKYH Alliance held their 2009 Summit Meeting in Jeju, Korea on April 9 to discuss joint strategies on how to overcome the current crisis in the shipping industry.
The alliance said the senior management of each of the four lines — Cosco, “K” LINE, Yang Ming and Hanjin Shipping — shared concerns and ideas on market prospects and agreed that the key to survival lies in even stronger cooperation among the partner carriers.
The Alliance members said they discussed various strategies covering rationalization of the existing East-West trades; expansion in the North-South trades and niche markets; utilization of assets such as ships, terminals, etc.; and cost-saving by common equipment management, feeder networks and contract with third parties.
The alliance members said they are planning to hold regular consultations between the top management of each partner carrier to discuss operational issues.
The alliance said the senior management of each of the four lines — Cosco, “K” LINE, Yang Ming and Hanjin Shipping — shared concerns and ideas on market prospects and agreed that the key to survival lies in even stronger cooperation among the partner carriers.
The Alliance members said they discussed various strategies covering rationalization of the existing East-West trades; expansion in the North-South trades and niche markets; utilization of assets such as ships, terminals, etc.; and cost-saving by common equipment management, feeder networks and contract with third parties.
The alliance members said they are planning to hold regular consultations between the top management of each partner carrier to discuss operational issues.