Low-cost Containership Company to run transpacific from April

A NORWEGIAN start-up called The Containership Company, which reportedly uses a budget airline business model, has announced it will provide a service from Taicang near Shanghai to either LA or Long Beach in April.

The service will deploy five ships in the 2,600-2,900 TEU class and offer a 16-day transit time, said company chief operating officer Franck Kayser, a former Maersk and CMA CGM executive.

Mr Kayser told American Shipper that using Taicang, 30 miles upstream from Shanghai on the Yangtze, would save shippers US$150-$200 in trucking costs.

He also said The Containership Company will launch a service between China and north Europe later this year.

The company's business model in the downturn has been to take up chartered tonnage at distressed rates in a sinking market and then share the savings with shippers.

Current negotiations will determine whether the service will call in Los Angeles or Long Beach.

The company is backed by a group of 30 investors, none of whom hold a major share, he said. The company will be based in Norway, with start-up capital of $25 million.

Source: www.schednet.com