World’s Largest Operational Agreement Between Shipping Companies Extended Until 2027 – Ocean Alliance

The CMA CGM Group, a worldwide leading shipping group, is pleased to announce that Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, signed the extension of the Ocean Alliance cooperation until 2027. The signing ceremony took place in Hainan, China, with the executives of COSCO SHIPPING, Evergreen and OOCL.

Representation Image – Credits: hhic-phil.com

Launched in 2017 for an initial period of five years with an option for a five-year renewal, Ocean Alliance is the world’s largest operational agreement between shipping companies. The confirmation of the 10-year duration of this partnership only two years after its launch reflects the trust and high-quality working relationship established between CMA CGM and its partners within Ocean Alliance, to the benefit of the CMA CGM Group’s customers.

On the occasion of his visit to China, Rodolphe Saadé also signed with his partners on January 16th the launch of Ocean Alliance Day 3 Product, CMA CGM’s new unmatched service offering. This reinforced offer will start in April 2019. Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, stated:

“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.”

Ocean Alliance Day 3 Product – Key Figures

• Around 330 container ships, 111 of which will be operated by the CMA CGM Group,
• An estimated carrying capacity of around 3.8 million TEUs (Twenty-foot Equivalent Units),
• 19 Transpacific services,
• 7 services between Asia and Europe,
• 4 services between Asia and the Mediterranean,
• 2 Transatlantic services,
• 4 services between Asia and the Middle East,
• 2 Asia-Red Sea services.

Reference: cma-cgm.com

Source: Maritime Shipping News