Trade between China and India grows

In what could be termed as the latest sign of trade growth between China and India, Nippon Yusen Kabushiki Kaisha, Evergreen Marine and Hanjin Shipping are joining in an alliance to launch a new service between China and India.

The service, dubbed ICS for India-China service, will originate in Pusan, South Korea, and include calls at Shanghai, Ningbo, Shekou in China, Singapore and Nhava Sheva and Pipavav, among others.

The new service comes amid early seasonal changes in capacity shifting as the transpacific and Asia-Europe trades undergo a continual decline in rates, despite late September and early October being regarded as still in peak season.

The catalyst has been entry of bigger boxships to the Asia Europe routes. Lines operating smaller vessels have 'cascaded' to the transpacific or intra-Asia trades, or, like current partners in the ICS service, addressed new avenues of demand, according to LLoyds List.