Taiwanese carrier Evergreen Line and Turkey’s Arkas Line will be co-operating to launch a new West-East Med Service (WEM).
The new service will connect the Aegean Sea, the Near East, and the Western Mediterranean.
Four vessels will be deployed for this service, with one by Evergreen and three by Arkas.
The WEM service has a port rotation of Valencia, Castellon, Barcelona, Fos, Cagliari, Piraeus, Beirut, Mersin, Iskenderun, Latakia, Alexandria (Dekheila), Izmir, Piraeus, and Valencia within a 28-day schedule, among which Piraeus is a key network hub for Evergreen in the Mediterranean.
The carrier currently has four weekly, line-haul, Asia-Med-Europe services (ADR, MD1, NE2, and NE7) calls at Piraeus.
Evergreen also plans to launch two additional feeder services: a Levant service 2, linking Piraeus to Mersin, with a slot exchange agreement with Arkas/Emes, and the Piraeus-South Italy shuttle service connecting Piraeus to Bari, in Southern Italy.
Evergreen posted revenue of TWD35.3 billion (USD1.14 billion) for the first quarter in 2015, growing 2.86% year on year (y/y).
The carrier benefited from the 6.8% y/y drop in bunker prices from the first quarter in 2014.
Evergreen recorded a gross profit of TWD3.2 billion and its net profit stood at TWD1.5 billion in the first quarter in 2015, compared with a giant loss of TWD1.7 billion in the first quarter in 2014.
This post was sourced from IHS Maritime 360: View the original article here.