AGREEMENT WITH HANJIN BOOSTS “K” LINE’s PRESENCE IN U.S./ASIA TRADE

AGREEMENT WITH HANJIN BOOSTS “K” LINEÆS PRESENCE IN U.S./ASIA TRADE

AGREEMENT WITH HANJIN BOOSTS “K” LINE'S PRESENCE IN U.S./ASIA TRADE

   “K” Line will boost its U.S./Asia services to three with a new slot charter agreement with Korea’s Hanjin Shipping Co.

'    “K” Line’s NATCO-3 All-Water Pendulum service will join the Japanese carrier’s other two services, known as NATCO-1 and NATCO-2.

   Pending Federal Maritime Commission clearance, “K” Line will purchase slots for 250 TEUs per week from Hanjin on that carrier’s existing all-water Asia/U.S./Europe service. “K” Line's space charters will be limited to the eastbound and westbound Asia/U.S. trade. The transatlantic leg of the Hanjin service is not covered by the agreement.

   Hanjin will offer 13 vessels of approximately 2,700-3,500 TEU capacity in the weekly service.

   “K” Line already has three transatlantic services in cooperation with Yangming and China Ocean Shipping Co., said Sam Saeki, “K” Line’s vice president of liner marketing. These services cover the U.S. North Atlantic ports and northern Europe, U.S. Gulf and northern Europe, and U.S. North Atlantic and Mediterranean.

   “We hooked up with Hanjin to get more space in the trade and more ports of call to meet our customers’ needs,” Saeki said.