UNITED ALLIANCE NOTIFIES FMC OF CHO YANG’S EXIT
The United Alliance carriers have formally notified the U.S. Federal Maritime Commission of the change of membership of their vessel-sharing agreement in trades to and from the U.S.
The amendment removes Cho Yang Shipping as a party to the agreement and adjusts the vessel contributions and space allocations of the remaining parties — Hanjin Shipping, Senator Lines and United Arab Shipping Co.
The carriers have also filed a new agreement that would allow Hanjin to sell vessel space to Cho Yang in the trades between U.S. East and West Coast ports and ports in Asia, Europe and the Mideast.
Cho Yang resigned from the United Alliance earlier this month, following concerns by its former partners that the repeated arrests of Cho Yang’s vessels were undermining their joint services and customer trust.