CP Ships to Double Frequency

Tuesday, July 19, 2005
CP Ships Limited today announced that one year after launching fortnightly service between Asia and Australia, it plans to double the frequency to weekly through a vessel sharing agreement with Yantai Marine (SYMS). "The agreement with Yantai Marine enables us to build on the success of our first Asia-Australia service efficiently, without adding additional tonnage of our own," commented Juan Manuel Gonzalez, Executive Vice President. Start-up of the joint service is expected in early August with CP Ships and Yantai Marine each contributing two 1700 teu ships. The port rotation will be Chiwan, Hong Kong, Ningbo, Shanghai, Sydney, Brisbane with connections to CP Ships networks in Asia. At 11 days, the transit time between Shanghai and Sydney will be one of the fastest available. CP Ships began its first Asia-Australia service in July 2004 under the Lykes Lines brand. The service will continue to operate as Lykes Lines until CP Ships adopts a single brand and begins offering service under the CP Ships name.

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