South Korean carrier Hanjin and Argentina-based Maruba joined a combined service with CMA CGM, Hapag-Lloyd and Hamburg Sud between the East Coast of South America and northern Europe.

The two latest carriers in the joint service hope to cut approximately 1,300 20-foot equivalent units of capacity by merging three slings into two. Hanjin will charter slots from CMA CGM and not provide a vessel. Maruba will provide one vessel, the Maruba Maximus. Hanjin was a member of the old SAFRAN service, which is now being merged with Hamburg Sud’s Brazil Express and Hapag-Lloyd’s SAECS service.

The carriers in the ECSA – Europe trade hope to implement a $250 per TEU general rate increase, but shippers are said to be resisting increases.

Seatrade Asia reports that current rates are as low as $500 northbound and $71 plus bunker charges southbound on the route. A year ago rates from Buenos Airesy to Europe were as high as $3,300 per FEU, Gustavo Krause, the Maruba line manager for the ECSA to North Europe trade told the news agency.

On the new route, Hanjin is implementing a fuel recovery charge of $73 per TEU and $146 per 40-foot equivalent unit northbound and $55 per TEU and $110 per FEU southbound.

The Journal of Commerce Online

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