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THE Alliance sets up post-Hanjin insurance plan

On April 01 ‘THE Alliance’ of Hapag- Lloyd, ‘K’Line, MOL, NYK and Yang Ming, will launch 32 liner services to 75
major ports on trade lanes connecting Asia with the Indian Subcontinent, Middle East, Europe, North and Central America and the Caribbean.

And reminded of the sudden demise of Hanjin Shipping last August, they have established a contingency plan in the event one of them suffers a similar fate.

The five container lines have set up an independent trustee to manage funds in case one or more of the members become insolvent.

Read the rest at Freight Week


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