Friday, September 12, 2014

‘Ocean Three’ Seals Global Alliance

By Mark Edward Nero

The CMA CGM Group, the world’s third largest container shipping company, announced Sept. 8 the signing of three major agreements with United Arab Shipping Corp. (UASC) and China Shipping Container Line (CSCL).

The agreements combine vessel sharing, slot charter and slot exchange, plus build upon an existing plan by UASC and CSCL to cooperate on an 18,000 TEU vessel trade agreement. The agreements, completed under the collective name of Ocean Three, cover Transpacific, Asia-United States East Coast, Asia-Europe and Asia-Mediterranean maritime trade routes.

The Transpacific trade is to consist of four weekly services to California and one service to the Pacific Northwest, while the Asia-US East Coast trade will consist of service via the Suez Canal and one service dedicated to the Gulf of Mexico.

The Asia-Europe trade is to consist of four weekly services added with two existing services, thereby offering six departures per week. The Asia-Mediterranean trade is to consist of four weekly services: two to the Mediterranean, one to the Adriatic and one to the Black Sea.

The agreements on Transatlantic trade are being finalized and will be announced at a later date, according to CMA CGM.

“This will allow us to propose to our clients a high quality and reliable alternative to existing services on the market,” CMA CGM Vice Chair Rodolphe Saadé said.

These agreements are pending authorization from the US Federal Maritime Commission.