Slot Exchange Agreement between China Shipping and CMA CGM Signed in Shanghai

Slot exchange agreement between China Shipping and CMA CGM was signed in Shanghai on Feb 18th, which is a good start for the development of container transport industry and more cooperation between the two groups. Cooperation and alliance between shipping lines has become a trend in the shipping sector. With the leaps in container transport it has made during the past years, China Shipping now is open to cooperate with other shipping lines. In this agreement, it is decided that from Mar 1st on, the two groups deploy 50 container vessels with capacity of 139 thousand TEUs to provide weekly service covering 16 ports in far east, 6 ports in Europe and 6 port in Mediterranean. Under this cooperation, Europe service of China Shipping can directly call Dalian, Qingdao?Ningbo and Europe, three more ports in southeast Asia port Klang, Gaoxiong and Keelong, two more ports in Europe Malta and Fos. While Med service of CMA CGM will call five Chinese ports such as Tianjin, Dalian, Qingdao, Shanghai and Ningbo, in its Europe service there will be two more basic calling ports Jakarta and South Ampton. Under this cooperation, the utilization ratio of capacity and frequency of calling will be increased and service area will be expanded. The competitiveness of both sides will be sharpened, therefore, it is a win-win achievement. It is said that this will be taken as a turning point for more cooperation between the two groups in container services and other areas. China Shipping is open to develop cooperative relationships with other shipping lines, to realize its goal to rank among the top shipping lines and become a global carrier.