March 26 2013
In order to meet the growing market demand on the Intra-Asia trades, Evergreen Line is launching its new CPM service linking South China, Philippines and East Malaysia from mid April 2013. In addition to providing regional transportation links for shippers in three countries, the new loop will connect to Evergreen’s global service network via Hong Kong.
Two ships of 1,700 teu will be deployed on the CPM service. The first sailing is planned from Shekou on the 15th of April 2013. The port rotation of the weekly service will be: Shekou – Hong Kong – Manila – Kota Kinabalu – Bintulu – Shekou.
Regional economic growth forecasts support the view that Evergreen’s expansion of its service network with the launch of the CPM is advisable. According to IMF’s World Economic Outlook report published in January 2013, ASEAN is forecast to attain economic growth rates of 5.5% in 2013 and 5.7% in 2014.
In addition, the Southeast Asian countries will begin negotiations to establish the Regional Comprehensive Economic Partnership (RCEP) this year together with China, Japan, South Korea, India, Australia and New Zealand. The free trade development that is expected to ensue will further boost cargo growth within the Intra-Asia markets.