Evergreen Line announced it will partner with COSCO and China Shipping in launching a joint China-Surabaya Express (CSX) Service.
Evergreen said this comes in view of the increasing market demand resulting from significant trade growth between China and the ASEAN countries, and is the latest initiative to enhance its service on the Intra-Asian trade.
The CSX service will employ four ships of 2,000-2,700 TEU, including one each provided by Evergreen and CSCL and the remaining two by COSCO. The first sailing is planned to depart from Qingdao on May 20th, with the following the port rotation: Qingdao-Shanghai-Xiamen-Shekou-Pasir Gudang (Malysia)-Singapore-Surabaya (Indonesia)-Singapore-Qingdao.
This weekly service covers major ports from China in the north to Malaysia and Indonesia in the south, providing regular and convenient links for regional trade and connecting to Evergreen's global service network
After the ASEAN-China Free Trade Area (ACFTA) was established in 2010, bilateral trade volumes have continued to rise. According to the statistics published by the Gerneral Administration of Customs in the PRC, its import and export trade with ASEAN grew by 8.3 percent to $480.4 billion in 2014.
In addition, the ASEAN community has actively negotiated with China, Japan, South Korea, India, Australia and New Zealand to establish the Regional Comprehensive Economic Partnership (RCEP). It is believed that this development will further encourage free trade and have the effect of driving cargo growth within the Intra-Asia trade, Evergreen said.