Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Ocean Alliance members extend agreement till 2027

0bbb3b4945a38ce6704bcfdadda8424e
The member container lines of the Ocean Alliance have extended their cooperation until 2027.

The alliance comprising CMA CGM, Cosco, OOCL and Evergreen was launched in 2017 for an initial period of five years with an option for a five-year renewal, but the partner lines have opted to extend to the full ten year period just two years into the alliance's operation.

The agreement to extend the alliance was signed in Hainan, China on Thursday.

Rodolphe Saadé, chairman and ceo of the CMA CGM  said: “This new agreement with our Asian partners will enable us to propose to our customers an unrivaled and competitive service offering. It is a milestone in our development strategy. It reinforces the CMA CGM Group in its key position within the industry.”

The Ocean Alliance operates around 330 containerships with a combined capacity of 3.8m teu.

It is one of three major alliances that dominate the major container trades along with 2M comprising Maersk and MSC, plus ZIM on some trades, and THE Alliance made up of Hapag-Lloyd, Ocean Network Express and Yang Ming.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish