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
Billcoleman lopw headshot

Reaping The Benefits Of Patience

Bill Coleman - Live Oak Private Wealth
Mikestonestreetcropped 862150530

How to Get the Most out of Living in a Community Association

Mike Stonestreet - CAMS (Community Association Management Services)
Screenshot2022 01 06at338 162234623

Genesis Block Aims to Connect Minority Owned Firms to $2.5 Million in Contracts in 2023

Girard Newkirk - Genesis Block

Trending News

Affordable Housing Investors Buy Lakeside Villas In $29M Deal

Staff Reports - Jan 26, 2023

Work Continues On Covey, Envisioned As Midtown’s Neighborhood Nest

Miriah Hamrick - Jan 25, 2023

The Half Takes A Bite Out Of New Markets With Second Location

Miriah Hamrick - Jan 25, 2023

City To Begin Due Diligence On Potential Thermo Fisher Building Purchase

Johanna F. Still - Jan 25, 2023

Novant NHRMC Unveils Its Neurosciences Institute

Staff Reports - Jan 25, 2023

In The Current Issue

Facility Owner Puts His Chips On The Table

With more than 15 years of experience in the wood chip industry, Taner Basaga has maintained key relationships with loggers in the region. “...


Local, State Efforts Target Service Sector

Many industries have started to recover from the roiling effect the pandemic had on the labor market, but nearly three years after the first...


New App Hooks Seafood Connections

Landon Hill is the founder and owner of the mobile app that seeks to promote local fishers and make it easier for buyers to find fresh seafo...

Book On Business

The 2023 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2022 Power Breakfast: Wilmington's Most Intriguing People - Spence Broadhurst & Hannah Gage
2022 Power Breakfast: Wilmington's Most Intriguing People - George Taylor
2022 Power Breakfast: Wilmington's Most Intriguing People - Mike Ford
2022 Power Breakfast: Wilmington's Most Intriguing People - Meaghan Dennison
2022 Power Breakfast: Wilmington's Most Intriguing People - Rhonda Bellamy