Print
Maritime

Wilmington Port Signs New Deal For Service To And From Asia

By Vince Winkel, posted Oct 31, 2016
Maersk has committed to more Asian routes after the recent collapse of the Hanjin Shipping Co. (Photo by Vince Winkel)
The brief vacancy caused by the recent collapse of Hanjin Shipping Co. at the Port of Wilmington has been shored up.
 
On Monday N.C. State Ports Authority officials announced a new partnership with Mediterranean Shipping Company (MSC) and Maersk Line with the addition of the TP10/Amberjack all-water Asia-U.S. East Coast container service.
 
"This new agreement will help businesses that depend on international commerce by enhancing our state's connection to vital international trade routes, and allowing larger container vessels to call on the Port of Wilmington," said Gov. Pat McCrory in a news release.
 
The TP10/Amberjack’s rotation includes direct calls to the heavily populated ports of Qingdao, Xingang, Ningbo, Shanghai and Busan in Asia, and is the only service offering direct linkage to the U.S. East Coast into and out of Xingag. This transpacific service traverses the expanded Panama Canal on its way to U.S. East Coast ports, offering the fastest coverage from Asia to Wilmington.
 
"The ports are a critical component of our state’s transportation system,” N.C. Transportation Secretary Nick Tennyson said in the news release. “This new partnership is evidence that our investments are paying off and are helping to keep North Carolina at the forefront of today’s global economy.”
 
The enhanced TP10/Amberjack service at the Port of Wilmington and consists of 10 Panamax 4,300-5,100 TEU ships with the arrival of the SeaLand Lightning.
 
“North Carolina has a ripe market that continues to drive the decisions of the world’s biggest container companies,” said Paul Cozza, ports executive director. “Our inclusion in this rotation not only improves our visibility in international trade but also ensures the businesses that rely on us will have that much needed connection to Asia.”
 
The N.C. State Ports Authority had relied on Hanjin for between 7 to 8 percent of its annual revenue, or about $3 million, and its routes to and from Asia. The South Korean company filed for bankruptcy in August.
 
Maersk Line already deploys multiple strings into the Port of Wilmington via its Intra-Americas regional ocean carrier SeaLand. The SeaLand Atlantico and revised SAE services provide access to Latin America for ports customers.
 
“Our beneficial cargo owners were clamoring for a stable Asia service in this location,” said Greg Fennell, ports chief commercial officer, in a news release. “The TP10/Amberjack provides us with greater convenience and enhanced transit times for shippers doing business in Asia.”
 
For an update on the latest development and construction at the Wilmington port, see the Nov. 4 edition of the Greater Wilmington Business Journal.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Carolinemontgomery4

Businesses Need To Take Coronavirus Action Today

Caroline Montgomery - Adam Shay CPA, PLLC
Hewet60

Leadership Is Getting From Knowing To Doing

Ron Hewett - Academy Leadership
Burrus rob headshot 300x300

Timely Lessons From The Spanish Flu Pandemic Of 1918

Robert Burrus - Cameron School of Business - UNC-Wilmington

Trending News

OPENBIZ: April 2 Business Closures, Services, New Hours In Response To Virus

Johanna Cano - Apr 2, 2020

CastleBranch Buys Its HQ In Joint Venture

Cece Nunn - Apr 1, 2020

NHMRC Seeing Cash Crunch Over Coronavirus

Vicky Janowski - Mar 31, 2020

SBA Lenders Prepare For A Wave Of Relief Program Applications

Jenny Callison - Apr 2, 2020

South Beach Grill, Sweet N Savory Adapt

Jessica Maurer - Apr 1, 2020

In The Current Issue

Adapting Patient Care Approaches

As area health providers began preparing for an expected increase in COVID-19 cases, they also began to update the way they see patients to...


On The Home Office Front

No matter how you cut it, say it – or even punctuate it – hundreds of thousands, if not millions, of Amer­icans are doing it because of the...


Survey Seeks Workforce Info

Businesses around a six-county region are being encouraged to participate in an analysis of the workforce and employment challenges in South...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WILMA Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`