COSCO Container Lines is launching its own China-Mexico-Cristobal (CUE) loop in response to a move by Evergreen to restart the CUE service that it previously jointly operated with Coscon under the new name of the Far East-Panama Service (FPS).
Coscon plans to launch its own CUE service in early June, reports AXS-Alphaliner News.
It said a total of seven ships of 2,800 TEU will be deployed on the new CUE service. The port rotation will be: Shanghai, Ningbo, Yantian, Hong Kong, Lazaro Cardenas and Balboa.
A train connection will be offered from Balboa to Cristobal, enabling a connection with Coscon's its north coast of South America feeder service (PVX) and thus avoiding possible congestion in the Panama Canal.
The transit time from the Far East to Central America is expected to be reduced by up to four days owing to the high speed of the vessels deployed on the service, the report added.
Average freight rates improved on all trade lanes, an average of 14.3 per cent year on year.
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