CMA CGM, China Shipping Container Lines And United Arab Shipping Form Three-Way Alliance

CMA CGM has agreed to a route-sharing alliance with China Shipping Container Lines Co Ltd. (CSCL) and United Arab Shipping Co. (UASC) to be known as Ocean Three in a bid to save costs on key container routes.

September 22, 2014

Reuters News

Cma Cgm Ship 54205c8449ca0

French container shipping group CMA CGM has sealed an alliance with two rivals after a failed attempt to partner with bigger peers Maersk and Switzerland's MSC, vetoed by China earlier this year due to competition concerns, according to Reuters News.

CMA CGM has agreed a route-sharing alliance with China Shipping Container Lines Co Ltd. (CSCL) and United Arab Shipping Co. (UASC) to be known as Ocean Three in a bid to save costs on key container routes.

The shipping industry has been battling overcapacity linked to a glut of new vessels ordered during a boom period before the global financial crisis of 2007-2009, forcing operators to look for ways of becoming more efficient.

CMA CGM said the new alliance would cover routes between Asia and Europe, as well as Asia and North America.

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