CMA CGM, Cosco Container Lines, Evergreen Line and Orient Overseas Container Line signed a Memorandum of Understanding to form a new Alliance on April 20, 2016 in Shanghai. This shall enable each of them to offer competitive products and comprehensive service networks covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, Trans-Pacific, Asia-North America East Coast, and Trans-Atlantic trades.
This is a milestone agreement among four of the world’s leading container shipping lines. The Alliance will dispose of a fleet of over 350 containerships. Initially the deployment will cover more than 40 services globally mostly connected with Asia, including about 20 services each in the U.S. and Europe related trades.
“Joint service cooperation is an essential part of our own strategic planning. This new alliance enables us to optimize fleet deployment and offer competitive service to meet customers’ changing demands.” remarked by Lawrence Lee, President of Evergreen Marine Corporation.
Subject to regulatory approvals of competent authorities, the new Alliance plans to begin operations in April 2017. The initial period of the Alliance shall be five years.
