Top Lines Resign From EPIC
Three members of the Europe, Pakistan, India Consortium (EPIC) - which operates container shipping services in the trade between Europe, the Middle East and Indian sub-continent - have given notice to the other consortium members. The three will resign from membership of EPIC from July 2003.Subject to regulatory approval, CMA CGM, Contship Containerlines and P&O Nedlloyd will form a new consortium to be called EPIC 3. Within the new consortium, the three container shipping lines will maintain current service levels with a seven-ship fleet comprising of five ships in total from Contship Containerlines and CMA CGM, plus two from P&O Nedlloyd. Today the consortium members provide fixed-day weekly services, with some of the fastest transit times on the route which will be maintained by the members of EPIC 3.
The prospective EPIC 3 members say this configuration will ensure continuity of the capacity available through the new service agreement. The EPIC consortium boosts several years of operation and was a pioneer of the Europe, Middle East, India-Pakistan, Europe 'triangle' which works by balancing the higher export volumes from Europe to the Middle East, with the busier import volumes from India/Pakistan to Europe.