Taiwanese carrier Yang Ming Marine Transport Corp has partnered up with Thai counterpart Regional Container Lines (RCL) to pool companies’ resources in overcoming the industry downturn.
Under the agreement announced on Monday, the duo agreed to expand cooperation on terminal operations in both Taiwan and Thailand, vessel chartering and equipment sharing, the Taipei Times reports. In this way the two companies intend to slash costs and improve coverage.
As disclosed, the cooperation would focus on the Asian market which has proven to be more resilient to the industry challenges, according to Yang Ming Marine’s chairman Frank Lu.
The deal builds upon the existing cooperation between the two shipping companies which has seen the two join forces in SE7 feeder service comprising of four 1,000 containerships.
The service was launched in February 2016, the ports of call being Singapore, Pasir Gudang, Haiphong, Qinzhou, Hong Kong, with a round voyage of 28 days.
World Maritime News Staff