EVERGREEN ABSORBS INTRA-ASIAN CARRIER UNIGLORY
Evergreen Marine Corp. (Taiwan) Ltd. has absorbed the intra-Asian network of container services previously operated by Uniglory Marine Corp., marking the end of the Taiwanese intra-Asian shipping line.
Both companies are affiliated with the Taiwanese shipping group Evergreen.
The transfer of the intra-Asia and East Asia/Middle East services to Evergreen became effective on Sunday (Sept. 1).
Although Evergreen Marine Corp. (Taiwan) Ltd. now operates Uniglory’s former services, Uniglory’s assets will not be transferred to Evergreen Marine. Uniglory will merge with Evergreen International Storage and Transport Corp., another Evergreen group affiliate, and cease its liner shipping activities.
Uniglory, set up by the Evergreen group in 1984, was listed on the Taiwanese stock market, and had annual revenues of NT$22.5 billion ($642 million) in 2001. The company operated about 50 containerships with a total capacity of over 60,000 TEUs.
The changes represent another step in the restructuring of the Evergreen group. Evergreen Marine did not say whether it will retain the entire staff and agents of Uniglory.
Evergreen Marine said that its expects that the former Uniglory services will remain largely unchanged under its control.
Arnold Wang, president of Evergreen Marine, said that his company will carry out detailed studies to establish whether improvements can be made. In particular, steps will be taken to achieve greater synergy between the new services and the existing global services of Evergreen, the company said.
Evergreen Marine is listed on the Taiwanese stock market.