SINGAPORE, LONDON, SEOUL, Korea and TOKYO, April 11, 2000 - The New World Alliance (TNWA) of APL, MOL and Hyundai has entered an agreement with Maersk Sealand which will greatly enhance the Alliance's trans-Atlantic service to customers. The agreement is subject to regulatory approvals in Washington and Brussels.
While full details have yet to be completed, the TNWA will extend its Asia/US East Coast service to North Europe and will operate this service loop in co-operation with Maersk Sealand.
The combined services in the trans-Atlantic trade of Maersk Sealand and TNWA will not increase the overall capacity.
TNWA said they were delighted to be able to offer their customers expanded, quality services. They were also pleased to be working closely with Maersk Sealand. The discussions leading to this agreement had been positive and constructive.
TNWA members APL and MOL have so far co-operated with Lykes and Hyundai with MSC. It is expected that these arrangements will expire by the end of the year and the new agreement will then become effective.
Teams will begin work next week on details of deployment and transition schedules.
"We would like to acknowledge and thank Lykes for the three year association with our companies," APL and MOL said. Mr. J. H. Lee of Hyundai Merchant Marine (Europe) added that whereas they too had been pleased with their association with MSC, the long term cost and operational efficiencies of one combined TNWA service arrangement were compelling and in the best interest of their customers.
"This agreement supports our commitment to strengthen our position in Europe consistent with our corporate strategy," President, APL - Europe, Ken Bloch Soerensen said. "We are proud that we can do so with a top quality service arrangement."
"This agreement supports our commitment to strengthen our position in Europe consistent with our corporate strategy," President, APL - Europe, Ken Bloch Soerensen said. "We are proud that we can do so with a top quality service arrangement."
Media contacts: APL: Peter Owen, London, tel. 44-1737-766799 HMM: C. W. Kim, Seoul, 82-2-3706-5471 MOL: O. Suzuki, Tokyo, 81-3-3587-7372