Challenging the Maersk and MSC 2M vessel-sharing agreement, a new east-west alliance is taking shape. The western giants Evergreen, OOCL and CMA CGM are joining hands with the newly merged Chinese ocean carriers, Cosco and CSCL to shake up the container ship market place.
- The Alliance checks the dominance of 2M partners from becoming totally dominant on some routes
- Grouping helps stronger shipping players to distance themselves from the rest
- Financial distress of the two South Korean carriers, in the CKYHE alliance, could have helped catalyze the new liner shipping alliances
- The rest nonaligned players like ASC (O3); Hapag-Lloyd, NYK and MOL (G6); and K Line and Yang Ming (CKYHE) may potentially come together to compete
“Various partnership scenarios are being contemplated and, given the prevailing uncertainties, the carriers are keeping all options open at this stage,” said Alphaliner.
Source: The Loadstar