KIEN HUNG CANCELS PLAN TO ENTER ASIA/U.S. EAST COAST TRADE
The Taiwanese shipping line Kien Hung has cancelled a plan to enter the Asia/U.S. East Coast trade by participating in a new container service with CMA CGM and China Shipping Group.
Kien Hung had discussed a plan to participate in the joint service, which starts in early April, but decided not to follow through.
Louis Chan, president of Kien Hung, told American Shipper that three problems made the launch of a service unattractive: the increased cost of chartered vessels, the difficulty of finding vessels with the required TEU capacity and the rise in bunker costs.
Chan said that Kien Hung would consider entering the trade again next year.
Earlier this month, Kien Hung upgraded the capacity and frequency of its Asia/U.S. West Coast/Central and South America “Oriente Service”.
