November 14, 2013
Evergreen Line is partnering with Hanjin to create its New Ho Chi Minh Service (NHS). Providing a significant boost to the service offered to shippers in the region, NHS will link Korea, China, Vietnam, Singapore and Malaysia.
The NHS service will employ four ships each with a 2,500 teu capacity (one supplied by Evergreen and the others by Hanjin). The service will have a weekly frequency and a port rotation as follows: Kwangyang, Busan, Shanghai, Shekou, Ho Chi Minh City, Singapore, Port Kelang, Penang, Tanjung Pelepas, Singapore, Ho Chi Minh City, Kwangyang. The first vessel on the NHS is planned to sail from Kwangyang on the 22nd of November.
The ASEAN countries, made up of the majority of South-east Asian states, boast some of the highest forecast growth rates of any region of the world. In 2013 the ASEAN economy looks set to grow by 5% and next year’s estimate is 5.4% according to IMF’s World Economic Outlook report. For this reason Evergreen is seeking to provide an even more comprehensive network service than it already offers. The inception of the NHS is in keeping with this aim.
In addition, it is believed that the free trade development that will potentially result from the establishment of the Regional Comprehensive Economic Partnership (RCEP) will further drive cargo demand in the Intra-Asia trades. Negotiations to establish RCEP were initiated this year between ASEAN, China, Japan, South Korea, India, Australia and New Zealand.