HMM launches new China-Singapore-Indonesia loop
KOREA's HMM has announced a new weekly intra-Asia service in partnership with Pacific International Lines and X-Press Feeders, reports New York's Journal of Commerce.
The service, launching June 19 from Tianjin, will link North China with Singapore and Indonesia, part of HMM's strategy to grow beyond long-haul routes.
The loop includes Tianjin, Qingdao, Xiamen, Singapore, Jakarta, Surabaya, and back, using five vessels between 4,000-5,000 TEU.
Demand for intra-Asia trade continues to rise. MDS Transmodal data shows China-Vietnam service frequency up 18 per cent year on year, while China-Singapore and China-Thailand routes are up 14 per cent and 13 per cent, respectively.
Drewry reports a spike in intra-Asia freight rates driven by disruptions on mainline trades, with June rate hikes expected despite market oversupply.
The new loop extends a broader trend of cooperation between mainline and regional carriers on intra-Asia lanes, mirroring recent alliances involving Yang Ming, Ocean Network Express, Evergreen Marine and others.
source:Schednet
- Evergreen's 24,000 TEU Ever Acme delivered 4 months ahead of schedule
- Major Chinese ports container volume up 2% in late November
- Japanese insurers to halt ship insurance for all of Russia
- Xeneta container rates alert: calm before storm, as long-term ocean freight rates hold steady ahead of expected new year pain
- APL England's box loss report finds ship's lashings in poor shape
