CARRIERS FORM SPACE CHARTER AGREEMENT COVERING U.S.-MED TRADE
P&O Nedlloyd, Farrell Lines, Hapag Lloyd Container Line and Zim Israel Navigationk Co. have entered a space charter agreement initially using six vessels weekly in the U.S.-Mediterranean trade.
P&O and Farrell (acting as one party) will provide four ships, while Hapag Lloyd and Zim (also acting as one party) will provide two vessels. The ships will have a capacity of approximately 1,500 – 1,800 twenty-foot equivalent units.
The agreement covers the trade between U.S. East and Gulf coast ports and ports in the Mediterranean and Atlantic ocean ports of Portugal.