China United Lines (CUL) has served notice on 28 November 2022 for the early
termination of its Long Term Cooperation Agreement with Antong Holdings that
involves the charter of 12 panamax ships of 4,132 teu to 4,713 teu to CU Lines
for $52,000 per day and the lease of Antong containers by CU Lines for
operations on the Asia-Europe and Transpacific routes under a profit sharing
arrangement.
The agreement was effective from 1 June 2022 and was supposed to expire in 34
months or on 1 April 2025.