Maersk applies to rejoin Transpacific Stabilisation Agreement

AFTER quitting in 2004, Copenhagen's Maersk Line, the world's biggest, has applied to rejoin the Transpacific Stabilisation Agreement (TSA) from December 24.

"Maersk had been a member of TSA from its inception in 1989 until its resignation from the research and discussion forum in 2004," said the TSA statement.

Maersk was said to have resigned over disappointment at rate increases achieved by carriers that year.

"Five years ago, market conditions were vastly different," explained Maersk transpacific trade vice president Lars Mikael Jensen. "Most transpacific carriers are operating at a loss. To overcome the challenges, it is crucial to build a cohesive relationship with shippers."

Said TSA chairman Ron Widdows: "We're pleased that Maersk sees value in TSA and wishes to re-join the agreement. With the unprecedented challenges the industry is facing due to the current global economic crisis, TSA believes it is helpful to have another voice participating."

Maersk Line provides stand-alone container shipping and related logistics services from Asia to the US, and also participates in a vessel-sharing arrangement from China to the US west coast with TSA member carriers Mediterranean Shipping Co and CMA-CGM.

TSA is a research and discussion forum of major container shipping lines serving the trade from Asia to ports and inland points in the US. More information on TSA can be found at www.tsacarriers.org.

The TSA includes APL, Hyundai Merchant Marine, CSCL, K Line, CMA-CGM, MSC, Cosco, NYK, OOOCL, Hanjin, Yang Ming, Hapag-Lloyd and Zim.

(Source: www.schednet.com)