- The Gemini Cooperation Agreement between shipping giants Maersk and Hapag-Lloyd took effect on Monday, signaling a major shift in the global maritime industry.
- The Gemini Cooperation, set to officially launch in February 2025, will create a vast network of nearly 300 vessels with a capacity exceeding 3 million TEU, aiming for over 90% schedule reliability.
The Gemini Cooperation Agreement between shipping giants Maersk and Hapag-Lloyd took effect on 9th September, signaling a major shift in the global maritime industry, reads a Federal Maritime Commission release.
Gemini Cooperation Agreement takes effect
The Agreement was filed with the Federal Maritime Commission on May 31, 2024, and was reviewed by the agency under statutory timeframes pursuant to applicable sections of the law, to assess its likely competitive impacts and its compliance with other statutory requirements and prohibitions.
The Gemini Cooperation, set to officially launch in February 2025, will create a vast network of nearly 300 vessels with a capacity exceeding 3 million TEU, aiming for over 90% schedule reliability.
The Gemini Cooperation Agreement allows Maersk A/S and Hapag-Lloyd AG and Hapag-Lloyd USA, LLC to share vessels in the trades between the United States and Asia, the Middle East, and Europe. The agreement was originally filed at the Commission in May 2024.
The Commission issued a Request for Additional Information (RFAI) on July 12, 2024, which required the filing parties to provide the data necessary for completing an economic analysis of the competitive effects of the Agreement. The parties submitted responses to the RFAI on July 26, 2024. By law, the Commission has a maximum of 45 days to review a newly filed agreement or the responses to an RFAI before the agreement automatically goes into effect.
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Source: Federal Maritime Commission
