Yellow Sea Regular Liners Council Agrees to Refrain from Overheating C

The Yellow Sea Regular Liners Council discussed how to make the counci
l proactive and reduce excessive competition in a meeting held to stab
ilize Korea/China container trade with the attendance of some liners.
TMSC, a Chinese carrier, and CQH Line, also a Chinese carrier, were pe
rsuaded to take part in the Council and CQH Line responded positively.
Dumping rates in Korea/China was another hot issue at the meeting. Pa
rticipants said that beginning the second half of this year the rate w
as decreased by 20 percent over the first half. Sources of these matte
rs and countermeasures were discussed. Participants said that cargoes
increased 30 percent while only 2 vessels put in this trade in the sam
e time. They concluded that falling rates were extremely strange thing
in this situation. Someone estimated to psychological factor for lots
of container vessels to be deployed in this trade hereafter. An exper
t from China Shipping insisted that even though his company deployed 2
vessels in this trade, it didn't influence rates because they just ca
rried feeder cargoes. Participants at the meeting agreed that they mi
ght stabilize the rates to cooperate with each other if falling rates
is only a psychological matter.