Britain To Build A ‘National Flagship’ To Promote Maritime Trade
by Alistair Smout (Reuters) – Britain is to build a new flagship to promote its business and trade interests around the world, the government said on Saturday, in a move it...
The port operating units of French shipping company CMA CGM and China’s COSCO Shipping have signed a Memorandum of Understanding to strengthen their strategic partnership in ports around the world with preference given to locations where Ocean Alliance vessels will be calling.
The MoU was signed by executives from COSCO SHIPPING Ports and CMA Terminals Holding during a visit to Shanghai on January 20. Both sides have also agreed to provide support in terms of business and service to the ports that the other side has already invested.
The Ocean Alliance, with members COSCO, CMA CGM, Evergreen, and OOCL, will launch this coming April. It will be the biggest of the three major vessel-sharing alliances, with 350 vessels with an estimated carrying capacity of 3.5 million TEU. The network is provisionally planned to include 20 transpacific loops, six Asia-North Europe services, five Asia -Med services, three transatlantic services, five Asia-Middle East loops and two Asia-Red Sea services.
COSCO SHIPPING Ports’ network of terminals extends to more than 30 ports worldwide, covering the main five port clusters along the Chinese coast, Southeast Asia, Europe, the Mediterranean, the Black Sea, among others.
The Ocean Alliance will be competing with the 2M Alliance, involving Maersk and MSC, and THE Alliance, which contains Hapag-Lloyd, K Line, MOL, NYK and Yang Ming. THE Alliance will also begin operations in April of this year, while the 2M is already operating.
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