Following nearly two years of negotiations with HU, the new consortium was created after the previous contract VIT held with CKY was incorporated into the ten-year HU agreement. Five carriers make up the newly formed ‘CKYHU’ consortium: Cosco, “K” Line, Yang Ming, Hanjin Shipping and United Arab Shipping Company.
“This cements our relationship with 100 percent of our customers for the next decade,” said Jerry A. Bridges, executive director of the Virginia Port Authority.
“The reason these shipping lines agreed to long-term deals is because of the service VIT delivers and the room we have for growth. We know there is more business out there and we intend to go and get it,” he said.