Hyundai Merchant Marine
Co, Ltd (HMM) of Korea and Far Eastern Shipping Co (FESCO) of
Russia announced that they had reached agreement to embark on
a Vessel Sharing Agreement on the East Asia to Australia trade
Both companies have
been cooperating in other trade lanes, enjoying a very close business
relationship over the last 10 years, and are delighted to see
the partnership grow and expand.
The VSA will be operated
with five vessels, one provided by Hyundai and four by FESCO.
The port call range remains unchanged with direct calls at Manila,
Kaohsiung, Keelung, Hong Kong, Yantian, Melbourne and Sydney.
The service will, in fact, continue to serve the full range of
East Asian ports, with special emphasis and focus on the dynamically
growing China market via Hong Kong and Yantian.
HMM has operated two
service lines between South East Asia and Australia since 1998,
and another 2 between Far East Asia and Australia since 2000.
HMM will now transfer its current market base in the Far East
Asia service onto this VSA, and will also commence a new service
to/from New Zealand by slot charter arrangement on the FESCO,
(FNZEL) service, which has a port rotation of Manila, Hong Kong,
Brisbane, Tauranga, Lyttelton and Brisbane and which operates
on a fixed weekly service.
FESCO, who has operated
in this trade lane as an independent operator since 1976, will
continue to offer its clients a continuation of its current service
standards with attractive transit times and a very widespread
port call range, as the service will in no way change the routing
or transit times or port call range.