News / Nerves jangle as shippers and forwarders wait to hear who is bankrolling Yang Ming

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As nervous shippers and freight service providers await details of Yang Ming’s new investors, an analyst has questioned the value of THE Alliance’s bankruptcy contingency plan.

Patrik Berglund, CEO and co-founder of ocean freight rate benchmarking and data analysts Xeneta, said today that in practice, moving the distressed boxes of a bankrupt carrier “could completely overwhelm already badly confused east-west shipping schedules”.

On 9 March, THE Alliance completed the roll-out of its network and announced a “unique contingency plan” to safeguard shippers against the ...