United Arab Shipping Company (UASC) and Hamburg Süd, two of the leading container shipping lines, have signed a global co-operation agreement.

The deal followed a series of discussions focused on the companies’ respective customers’ business needs, key growth areas, and operational requirements, said a statement.

The need to address logistical imbalances was also a key driver behind the agreement, it said.

Jorn Hinge, president and chief executive of UASC, said: “As a customer-focused and emerging global operator, UASC is committed to continuously delivering new and enhanced service patterns. This co-operation with Hamburg Süd enables access to the South America trades and illustrates our ambitious approach to enhance geographic coverage.

“In today’s challenging marketplace our customers deserve more opportunities, better services and improved efficiencies. Through partnerships with leading operators such as Hamburg Süd, and investment in some of the largest and most eco-efficient container vessels ever built, UASC ensures that customer service remains at the very heart of our operations.”

Dr Ottmar Gast, chairman of Hamburg Süd, said: “This co-operation will enable Hamburg Süd and UASC to complement each other’s core services and networks, offering both lines’ customers a more comprehensive global reach and reliable services without incremental investment in new tonnage. Hamburg Süd and UASC customers will benefit from the companies’ deployments featuring highly efficient and environmentally friendly vessels.”

Hamburg Süd and UASC have agreed to co-operate initially on several of their respective core trades. Hamburg Süd will enter the Asia - North Europe and Asia - US trades in December and January next year respectively, while UASC will enter the Europe - South America East Coast and Asia - South America East Coast trades effective from mid-2015.

The co-operation will be in the form of slot exchanges; vessel deployment opportunities will be explored in due course, said the statement.

Further geographic scope for co-operation is currently under discussion. Both carriers also intend to explore other areas of cooperation going forward, it added. - TradeArabia News Service