Hapag-Lloyd

THE Alliance is to set up an independently managed trust fund to safeguard cargo operations should one of its liner shipping group members go bankrupt.

Hapag-Lloyd, Yang Ming, K Line, MOL and NYK said today they had finalised their network details ahead of THE Alliance launch on 1 April, and within the vessel sharing agreement (VSA) was a “unique contingency plan”.

“It is envisioned that the fund will be used to continue operations in the event of insolvency of one or more of the member ...

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