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CMA CGM, Cosco, Evergreen and OOCL unveil Ocean Alliance agreement

CMA CGM, Cosco, Evergreen and OOCL unveil Ocean Alliance agreement
The shake-out of container shipping alliances is becoming clearer as CMA CGM, Cosco Container Lines, Evergreen Line and Orient Overseas Container Lines (OOCL) sign a agreement to form the “Ocean Alliance”.

The proposed new alliance follows the merger of Cosco and China Shipping’s container lines and CMA CGM’s move to buy Neptune Orient Lines (NOL), where it plans to pull container line APL out from the G6 Alliance.

The four lines signed a Memorandum of Understanding (MoU) for the alliance will cover the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, transpacific, Asia-North America East Coast, and transatlantic trades.

The alliance will cover some 350 containerships and initially more than 40 shipping services, mainly connected to Asia, including 20 services to Europe and the US.

“This new partnership will allow each of its members to bring significantly improved services to its respective customers,” member carriers said in a statement.

Rodolphe Saadé, vice president of CMA CGM Group said: “The Ocean Alliance is a very ambitious operational agreement. CMA CGM, and its new partners, will offer more than 40 maritime loops, providing its customers with an enhanced network of services and fast transit times.”

The alliance plans to begin operations in April 2017 pending regulatory approvals and would be for an initial period of five years.

The new alliance would leave the current CKYHE alliance with just three members – Kawasaki Kisen Kaisha (K Line), Yang Ming Line and Hanjin Shipping.

The G6 Alliance would be down to four members: Hapag-Lloyd, Hyundai Merchant Marine (HMM), Mitsui OSK Lines (MOL) and Nippon Yusen Kaisha (NYK).

Meanwhile UASC would be the only member left of the Ocean Three alliance.