Grand Alliance and New World Alliance form alliance of alliances - Hapag-Lloyd, CP Ships ask clearance for joint operations.

BYLINE: Rick Eyerdam

The seven ocean cargo carriers that belong to the Grand Alliance and the New World Alliance on Oct. 6 announced an agreement to cooperate on key east-west trade lanes starting in early 2006. The two alliances also have decided to design and implement a new jointly operated loop connecting Asia to the East Coast of North America via the Panama Canal.Such a move will reduce the delays inherent in repositioning efficient Panamax vessels - those suitable for Panama Canal transit - to serve the unexpected growth in cargo for all-water services to the East Coast of North America from Asia.The impact of the alliance of alliances will be seen immediately as the carriers exchange slots in the Asia-Europe and Asia-Mediterranean trades, freeing capacity for North and South America loops."Working together will enable us to deliver better and more flexible product and service options for our customers, particularly as new container ships delivered to …