YANGMING, HANJIN ENTER SPACE AGREEMENT
Yangming Marine Transport Corp. and Hanjin Shipping Co. have entered into a space charter agreement covering trade between the U.S. East and Gulf Coasts and European ports in the Hamburg-Gibraltar range.
Hanjin will charter 200 TEUs or 2,400 metric tons per vessel, whichever is reached first, on Yangming ships. The charter covers both eastbound and westbound movements.
The carriers are authorized to interchange or lease empty containers, chassis, and related equipment. They also are permitted to jointly contract or coordinate in contracting with stevedores, terminals, ports and suppliers of equipment. The agreement does not permit joint operation of marine terminal facilities in the United States.
Pending Federal Maritime Commission clearance, the agreement is expected to go into effect by Feb. 1.