South Korea’s Lotte Global Logistics announced on Monday that it partnered with the France-based world’s third-largest shipping company CMA CGM, reports The Korea Economic Daily.
About the deal
The two companies signed a memorandum of understanding (MOU) to provide competitive ocean freight and vessel space management. They aim to improve service cooperation across the Americas, Europe, and Asia.
It also includes collaboration in environmental, social, and governance (ESG) initiatives, aligning with broader industry trends towards sustainability.
CMA CGM, a prominent member of the Ocean Alliance, which also includes 2M and THE Alliance, services over 400 commercial ports globally.
Shipping alliances are agreements among global shipping companies to share vessels and routes, enabling joint service operations.
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Source: The Korea Economic Daily
