CMA CGM, COSCO Shipping, Evergreen line and Orient Overseas Container Line have agreed to form a new Alliance, to offer best-in-class service to their customers.
The four container shipping giants have signed a Memorandum of Understanding to establish a new alliance which enables each of them to offer competitive products and comprehensive service networks covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, Trans-Pacific, Asia-North America East Coast, and Trans-Atlantic trades.
The new Alliance named as Ocean Alliance will begin its operations from April 2017. The initial period of the alliance will be five years.
This is considered as an important milestone agreement among the four giants. Each of them will provide best-in-class services to customers with fast transit times, competitive sailing frequencies, and the most extensive port coverage in the market.
“This new partnership will allow each of its members to bring significantly improved services to its respective customers,” member carriers said in a statement. “Shippers will have an attractive selection of frequent departures and direct calls to meet their supply chain needs, including access to a vast network with the largest number of sailings and port rotations connecting markets in Asia, Europe, and the United States.”
“The Alliance will also bring service reliability and the most efficient integration of the latest vessels in a fleet of over 350 containerships. Initially, the deployment will cover more than 40 services globally mostly connected with Asia, including about 20 services each in the U.S. and Europe related trades.”
Stakeholders and the market will receive the further information and details regarding the new alliance and transition plans in the due course.
Source: CMA CGM