Ocean Network Express (ONE) is looking to tap growing business links between India and the US with a new liner service via the Suez Canal.
The Singapore-headquartered company said the West India North America (WIN) service would connect India’s west coast and the US east coast.
The weekly service will deploy nine vessels, the size of which have not been specified, on a route from Hazira, Nhava Sheva, Mundra to New York, Norfolk, Savannah and Charleston.
ONE said the service will also call at Damietta, Algeciras and Jeddah, which offers further connections to Mediterranean destinations in combination with other services.
India has been playing an increasingly important role in world trade, with an export volume of approximately $453bn with an annual growth rate of 15% in 2022, according to the World Trade Organisation.
US seaborne imports on the India-US port pairs proposed reached 352,000 teu in the 12 months to the end of October 2023, according to global trade data company Panjiva.
That was down by 22% versus a year earlier. Major products shipped include furniture and floorings, textiles and apparel, pharmaceuticals and car parts.
“There are risks to the routing in 2024,” S&P Global Market Intelligence said. “It relies on the Suez Canal, which faces conflict risks.
“However, a Suez route may nonetheless be preferable to the Panama Canal given current water-related disruptions.
“Shipping firms in both the chemicals and container vessel sectors have already announced reroutings to avoid the Panama Canal, while container lines are applying surcharges of $130 per teu for using the route.”
ONE said the independent nature of the WIN service will provide “reliability and flexibility” to its customers.
Apramapar Singh, general manager of India marketing at ONE India, said the shipowner has been committed to the India market since “day one” and that the WIN service is “another milestone for our business”.
“Hazira container terminal is a gateway to the industrially vibrant belt of South Gujarat, North Maharashtra and Central India,” he said.
Zach Connors, senior director and head of sales of ONE North America, said: “At ONE, we strive to embrace and support our customers’ growth patterns.
“The rapid move of so many towards India is ripe for collaboration; our new WIN service is a flexible and dynamic product, designed to catalyse development of the India-North America market and beyond.”
ONE established a presence in India in 2018 and now has 25 offices with more than 400 employees. It provides 22 weekly services, which collectively cover 11 ports in India.
