The four ocean carriers in the CKYH Alliance said they would increasingly pool resources and could curtail east/west services due to poor yields.
The alliance members -- COSCO, “K” Line Yang Ming and Hanjin Shipping -- met late last week in Korea to discuss ways to wade through a tough 2009.
"With senior management of each line present, the alliance members shared concerns and ideas on market prospects as well as on how to overcome the current crisis in the shipping industry," the carriers said in a statement. "They all agreed that the key to survival lies in providing the customers with distinguished services, which requires even stronger cooperation among the partner carriers."
Strategies discussed including rationalizing services on the major east/west trades and expanding in north/south and niche trades. According to ComPair Data, the CKYH Alliance is the largest carrier grouping, in terms of weekly capacity, on the transpacific and the second-largest between Asia and Europe.
The lines said they also discussed collective utilization of ships, terminals, equipment, feeder networks and contracts with third parties. The carriers said they would hold such meetings more regularly in the future.
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