Taipei: United Arab Shipping Co (UASC), the Middle East’s largest containerline, is negotiating along with Taiwan’s Evergreen to join the CKYH container group. The CKYH group is made up of Asian lines, Cosco, K Line, Yang Ming and Hanjin, the latter of which has had to reduce its capacity considerably of late due to poor financial performance.
The boosting of the CKYH group is also in response to the P3 alliance, the new container grouping of the top three lines, Maersk, MSC and CMA CGM.
UASC has been forging close ties with China Shipping Container Lines (CSCL) in the past couple of years and UASC’s possible CKYH entrance could also see CSCL follow further down the line. [20/02/14]