Maersk ship entering the Port of Rotterdam. Photo: Shutterstock
The Federal Maritime Commission has opened a 12-day comment period for public response to Maersk and Hapag Lloyd’s new vessel sharing agreement, called the Gemini Cooperation Agreement.
Announced in January, the Gemini Cooperation will allow Maersk and Hapag-Lloyd to globally coordinate their vessel operations. The proposed structure is a ‘hub & spoke’ system, with major ports served directly (the Mainline Network), and other ports served by shuttle services (the Shuttle Network), with the aim of establishing a superior global network that offers reliable schedules, competitive transit times, and a reduced carbon footprint.
The collaboration will merge the fleets of both companies, creating a combined capacity of about 3.4 million containers (TEU). Maersk will deploy 60 percent of these vessels, with Hapag-Lloyd accounting for the remaining 40 percent. The ambitious goal is to deliver schedule reliability of above 90% once the network is fully operational.
As part of this collaboration, Hapag-Lloyd will leave THE Alliance at the end of January 2025, and Maersk and MSC Mediterranean Shipping Company have announced that the 2M alliance will end in January 2025.
If the Commission takes no action, the Gemini Agreement will become effective on July 15, 2024, with operations beginning in February 2025.
The deadline for comment submission is June 18, 2024, and all submitted comments will be kept confidential.
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