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More cargo routes to Central America from Port EvergladesKing Ocean Services Limited, Inc. and Crowley Caribbean Services, LLC's have entered into a vessel sharing agreement, allowing the cargo carriers to enter more routes to Central America from Port Everglades.
The vessel sharing agreement between two of the port’s largest customers lets the carriers charter space on each others ships. This allows the carriers the ability to enter new routes and reduce costs as well as fuel usage.
Specifically, the agreement authorizes Crowley to charter space to King Ocean in the trade from the U.S. East Coast to Trinidad. It also allows King Ocean to charter space to Crowley in the trade from the U.S. East Coast to St. Lucia and Barbados.
Additionally, the agreement gives both carriers the ability to charter space to each other when needed for the northbound movement of empty containers.
As a result of the Vessel Sharing Agreement, King Ocean will be able sail its own ship from Port Everglades to Costa Rica for the first time.
Overall, Central America accounts for 37 percent of all international trade through Port Everglades, and refrigerated cargo are some of the top imports from Central America.
The port is undergoing the most expensive capital improvements project in the port’s history, which was designed so that the Broward County port is able to accommodate larger cargo ships. The improvements will total $437.5 million, and will add new berths for larger cargo ships and install rail infrastructure for the new Super Post-Panamax cranes.
Publication date: 8/8/2017
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