Grand Alliance to re-route EU 3 service via Cape of Good Hope
Grand Alliance members Hapag-Lloyd, MISC Berhad, Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL) announced today they will re-route all eastbound EU3 service vessels around the Cape of Good Hope, instead of transiting the Suez Canal. Presently there are no changes planned for the westbound trade.
The decision, which takes place with immediate effect, is in response to high Suez Canal toll fees, which are difficult for carriers to afford in the current economic environment.
Port rotation of EU3 remains the same: Southampton/ Hamburg/ Rotterdam/ Port Klang/ Singapore/ Shekou/ Hong Kong/ Ningbo/ Shanghai, with an extra seven days added to the schedule due to the diversion. 10 ships of 8,000TEUs are operating on the service.
The Grand Alliance will consider re-routing more services if the overall economic situation does not improve.
The Grand Alliance, formed in 1998, is the leading integrated consortium in global container shipping. Its members are Hapag-Lloyd (Germany), MISC Berhad (Malaysia), NYK (Japan) and OOCL (Hong Kong).
§ About NYK
Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. At the end of March 2008, the NYK Group was operating about 776 major ocean vessels, as well as fleets of planes, trains, and trucks. The company's shipping fleet includes around 155 containerships, 286 bulk carriers, 55 woodchip carriers, 113 car carriers, 21 reefer carriers, 78 tankers, 30 LNG carriers, and three cruise ships. NYK's revenue in fiscal 2007 was about $26 billion, and as a group NYK employs about 55,000 people worldwide. The company has offices in 240 locations in 27 countries, warehouses on nearly every continent, and harbor operations in Asia, North America, and Europe. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo.