The Taiwan and Singapore shipping firms plan to operate a joint service on the world's No2 trade lane
Two of the largest container shipping lines plying the intra-Asia trades, Taiwan's Wan Hai Lines and Singapore-based Pacific International Lines (PIL), have set their sights on the Europe market next year.
The carriers will launch a joint service on the world's No2 trade lane with up to nine mid-sized vessels just after the Lunar New Year, which falls in late January, according to senior management at the companies.
'We are in discussions with Wan Hai about entering the Asia-Europe trades. Eight or nine vessels between 2,500 teu [20ft equivalent unit] and 3,000 teu will be deployed.
'We expect the availability for capacity of this size in the charter market to broaden by early 2004 as [larger] newbuildings are introduced to the major alliances, freeing up [smaller] tonnage for open charter market,' a PIL source said.
PIL is becoming an increasingly strong player in north China and has recently launched services linking that market with the Indian subcontinent and the Middle East.
