The member companies of the Ocean Alliance – CMA CGM, Evergreen Line, Cosco and Orient Overseas Container Line (OOCL), have agreed to extend their cooperation through March 31, 2027.
Launched in 2017 for an initial period of five years with an option for a five-year renewal, Ocean Alliance is the world’s largest operational agreement between shipping companies.
Additionally, the OCEAN Alliance’s revised network taking effect in April will involve the deployment of approximately 330 containerships with a carrying capacity of around 3.8m teu across 38 services. CMA CGM said it will operate 111 of the ships.
“The confirmation of the 10-year duration of this partnership only two years after its launch reflects the trust and high-quality working relationship established between CMA CGM and its partners within Ocean Alliance, to the benefit of the CMA CGM Group’s customers,” CMA CGM said in a release.
“This new agreement with our Asian partners will enable us to propose to our customers an unrivaled and competitive service offering. It is a milestone in our development strategy. It reinforces the CMA CGM Group in its key position within the industry,” commented Rodolphe Saadé, chairman and chief executive officer of CMA CGM Group.
“All members are convinced that, with the confirmation of ten years cooperation, Ocean Alliance could cope with the challenge in future and our alliance would be united and strong. We will perform the necessary procedures to related regulators and ensure the operation of Ocean Alliance compliance with laws and regulations,” Cosco said.