CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line today signed a memorandum of understanding to form a new alliance covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, transpacific, Asia-North America East Coast, and transatlantic trades.
“This is a milestone agreement among four of the world’s leading container shipping lines,” the group said in a release. The move will have massive reverberations around existing container alliances forcing a period of shifting alliances.
The Ocean Alliance, as the new partnership is called, has more than 350 boxships.
Subject to regulatory approvals of competent authorities, the new alliance plans to begin operations in April 2017. The initial period of the alliance shall be five years.
Rodolphe Saadé, vice president of CMA CGM Group commented: “The Ocean Alliance is a very ambitious operational agreement. CMA CGM, and its new partners, will offer more than 40 maritime loops, providing its customers with an enhanced network of services and fast transit times.”
Representatives from the alliance visited the US Federal Maritime Commission on Tuesday to discuss the proposed alliance, which was welcomed by the organisation.
“I appreciate CMA CGM, COSCO, Evergreen and OOCL officials visiting the Federal Maritime Commission yesterday to discuss their future plans of an alignment. I look forward to reviewing and studying their formal filing of a vessel sharing alliance once it is is filed with the Commission,” said William P. Doyle, US Federal Maritime Commissioner.
