The trade between Asia and the East Coast of South America is about to get a significant boost. Five of the world’s largest ocean carriers – CMA CGM, COSCO, OOCL, Evergreen, and PIL – have joined forces to launch a brand new service on this route.
This new service will operate under the Asia-Latin America trade and is expected to commence in May 2024. It will feature two separate loops, offering increased connectivity and catering to the growing trade flows between these regions. The first loop will be operated by a fleet of 12 container ships, each with a capacity of up to 14,000 TEU (Twenty-foot Equivalent Unit). Notably, these vessels are quite large, indicating the anticipated high demand on this route.
The article quotes William Ho, PIL’s General Manager of Long Haul Trade, expressing enthusiasm about the new service. He highlights the promising growth prospects of the Latin American market and their desire to strengthen their presence on both the East and West Coasts of South America. This move by these major container lines suggests their confidence in the potential of the Asia-East Coast South America trade lane.
Source: Container News