HMM to launch Asia-north Europe loop
Coal Power Plant at Sahiwal. The proposed improvement on anvil is procurement of 820 high capacity/high speed wagons to replace old and overage fleet of cargo wagons at a cost of `9516 million in next 1-2 years. During 201617, the freight trains from Karachi Port were increased from 182 trains per year to 3318 trains per year. Long haul long term agreements have been signed with major companies with advance payment in freight deposit accounts. HMM is set to launch a new Asia-north Europe loop in April, independent of its slot charter and slot and swap agreement with the 2M alliance, despite the cooperation deal having over two years still to run. According to an industry source the first sailing of HMM’S new Asia-europe Express (AEX) will be on 9 April with the service deploying panamax containerships of around 5,000 teu capacity. HMM aims to fill its standalone vessels with higher paying time-sensitive cargo and is believed to have tapped into South Korea’s giant electrical manufacturers for their support.