Maersk Line has entered a slot charter agreement, which will provide CMA-CGM space in the transatlantic trade. The agreement covers 900 TEUs on a weekly basis on Maersk Line TA3 service from North Europe to/from Newark, Savannah, and Miami on the U.S. East Coast.
Presently TA3 service continues through the Panama Canal to the U.S. West Coast, but this loop is not included in the agreement and will continue to be served only by Maersk Line.
The Transatlantic trade has suffered from surplus capacity and Maersk Line expects this slot charter agreement will bring balance to the capacity in the trade. Consequently, CMA-CGM will terminate the "Liberty Bridge" service operated in cooperation with China Shipping Company. Today this service deploys 4 x 2500 TEU vessels, which represent 5% of the total capacity in the transatlantic trade.
The slot charter agreement will commence with the sailing of the Dirch Maersk departing Bremerhaven on 17 April 2008.