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EXPIRATION
OF VSA AGGREMENT MERGES TWO TRANSLANTIC SERVICES
The Vessel Sharring Aggrement of Maersk Sealand with P&0 Nedloyd and
OOCL will expire in July. The VSA will not be renewed and Maersk Sealand
will merge their North and South Atlantic Services into one. The number
and rotation of the ships has not been decided, but the frequency will remain
weekly. The "Econoships" of the Atlantic Services are operated
by Maersk Sealand while other carriers take space on them. Some speculators
have raised questions as to the risk of overtonnaging in the shipping trade
based on Maersk Sealand's decision to maintain its Atlantic services despite
the expiration of the VSA with its partners.
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