CULines expanding into the transpacific container trade

In the latest move by CULines seeing it shift being a regional and feeder player into the longhaul markets, the company plans to open up a new service Trans-pacific Express (TPX) on 18 July, connecting Shanghai and Los Angeles directly.

Initial vessel sizes deployed on the new service with five 1,700 teu - 4,400 teu containerships for the period of July and August, possibly reflection of the extremely tight situation in terms of available tonnage in the market. In September, TPX service will upgrade its containership fleet with larger carrying capacity.

CULines move into the transpacific trade comes at a time of record container freight rates between China and the US. Last week analysts Drewry reported that Shanghai – Los Angeles freight rates stood at $9,155 per feu, up 7% on the week before, and an increase of 272% year-on-year.

CULines made its debut on the Asia – Europe trade in January this year

The company ordered six new containerships from two Chinese shipyards of Yangzijiang and Huangpu Wenchong for fleet expansion in June and January 2021, respectively, and had opened several new export services so far this year.