Hamburg Süd and UASC focus on Latin America with new vessel-sharing agreement

Just weeks after signing on to the “Ocean Three” vessel-sharing agreement with CMA CGM and China Shipping, United Arab Shipping Company has forged a similar deal with Hamburg Süd.

“This cooperation with Hamburg Süd enables access to the South America trades and illustrates our ambitious approach to enhance geographic coverage,” said Jørn Hinge, president and chief executive officer of UASC in a statement.  

Hamburg Süd will now bring capacity on UASC routes linking Asia and northern Europe, as well as Asia and the U.S. by the end of the year.

UASC, meanwhile, will enter Hamburg Süd deployments between Europe and South America East Coast, and between Asia and South America East Coast.

“This cooperation will enable Hamburg Süd and UASC to complement each other’s core services and networks,” said Dr. Ottmar Gast, Chairman of the Executive Board of Hamburg Süd.

Economic activity in Latin America and the Caribbean is expected to stay in low gear in 2014, according to the IMF’s latest forecast for the region, but analysts tell LM that ocean carriers are targeting the north-south trades in anticipation of a rebound.