G6 Alliance decides to maintain current 6-loop product structure for Asia-Europe service
May 2, 2012
Members of the G6 Alliance announced today that they will maintain the current 6-loop product structure and not reinstate the planned Loop 2 Asia-Europe service. This loop was originally developed as one of the seven loops between Asia and North Europe jointly provided by the six members.
It was not initiated in March because of the unsuitable market conditions at that time and the G6 Alliance has not seen any improvements in the current market environment to justify the implementation of an additional service in the Asia-Europe trade.
The G6 Alliance members: APL, Hapag-Lloyd, Hyundai Merchant Marine, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and Orient Overseas Container Line.
The G6 Alliance provides six loops between Asia and North Europe, the Asia-Mediterranean Express Service (EUM), and the Asia-Black Sea Express Service (ABX). These eight loops connect nearly 40 ports in 25 countries of the trade with over 110 weekly calls, at major ports daily.
§ About NYK
Nippon Yusen Kabushiki Kaisha is one of the world's leading transportation companies. At the end of March 2011, the NYK Group was operating 827 major ocean vessels, as well as fleets of planes, trains, and trucks. The company's shipping fleet includes 143 containerships, 344 bulk carriers, 57 wood-chip carriers, 118 car carriers, 86 tankers, 29 LNG carriers, three cruise ships, and 47 other ships. NYK's revenue in fiscal 2010 was about $22 billion, and as a group NYK employs about 54,000 people worldwide. NYK is based in Tokyo and has regional headquarters in London, New York, Singapore, Hong Kong, Shanghai, Sydney, and Sao Paulo.
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