The Federal Maritime Commission on Oct. 8 approved the
formation of a new vessel sharing agreement between Maersk Line and
Mediterranean Shipping Co., dubbed the 2M Alliance by the two shipping
companies.
The FMC’s approval – Richard Lidinsky Jr. cast the sole vote
against the deal – means the last major hurdle has been cleared for the
alliance’s formation; China and the European Union previously approved the
deal.
Maersk and MSC announced July 10 that they’d signed a
10-year vessel sharing agreement on Asia-Europe, Transatlantic and Transpacific
trades, including the West Coast of North America.
The shippers say the agreement includes 185 vessels with an
estimated capacity of 2.1 million TEU. Maersk Line is to contribute 110 vessels
with a nominal capacity of about 1.2 million TEUs, or 55 percent of total
capacity, while MSC contributes 75 vessels with a nominal capacity of almost a
million TEUs, or 45 percent of total capacity.
The shipping lines say that with the agreement in place,
they’ll be able to provide their customers with more stable and frequent
services and cover more ports with direct services as well as improve the
efficiency of the companies’ networks through better utilization of vessel
capacity and economies of scale.
Earlier this year, the two carriers, which control 28
percent of the global container shipping market, were previously involved in
the failed P3 Alliance of shippers. The alliance received approvals from US and
European officials, but fell apart after the Chinese Ministry announced its
disapproval June 17 following an anti-monopoly investigation.
The 2M Alliance partners say they expect to begin joint
operations in January.