CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line to establish OCEAN Alliance - April 20, 2016

Shanghai, April 20, 2016 - CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line today signed a Memorandum of Understanding to form a new Alliance enabling each of them to offer competitive products and comprehensive service networks covering the Asia-Europe, Asia-Mediterranean, Asia-Red Sea, Asia-Middle East, Trans-Pacific, Asia-North America East Coast, and Trans-Atlantic trades.

This is a milestone agreement among four of the world’s leading container shipping lines. Each line will offer best-in-class services to customers with fast transit times, competitive sailing frequencies, and the most extensive port coverage in the market.  

“This new partnership will allow each of its members to bring significantly improved services to its respective customers,” member carriers said in a statement. “Shippers will have an attractive selection of frequent departures and direct calls to meet their supply chain needs, including access to a vast network with the largest number of sailings and port rotations connecting markets in Asia, Europe and the United States.”

“The Alliance will also bring service reliability and the most efficient integration of the latest vessels in a fleet of over 350 containerships.

Initially the deployment will cover more than 40 services globally mostly connected with Asia, including about 20 services each in the U.S. and Europe related trades.”

Subject to regulatory approvals of competent authorities, the new Alliance plans to begin operations in April 2017.  The initial period of the Alliance shall be five years.

 “The Ocean Alliance is a very ambitious operational agreement. CMA CGM, and its new partners, will offer more than 40 maritime loops, providing its customers with an enhanced network of services and fast transit times.” remarked by CMA CGM.

 “Today is a great day for COSCO Container Lines. OCEAN Alliance is a better match for our globalization strategy. We will provide customers with more selections and improved service world-wide.” remarked by COSCO Container Lines.

“Joint service cooperation is an essential part of our own strategic planning.  This new alliance enables us to optimize fleet deployment and offer competitive service to meet customers’ changing demand. “, remarked by Lawrence Lee, CEO of Evergreen Marine Corporation.

Upon signing the MOU, Andy Tung, CEO of Orient Overseas Container Line remarked: “The extensive network and port coverage of the new alliance will offer our customers a wide range of choices and highly competitive services for their supply chains.  The new alliance will also be a platform for our ongoing growth as well as improve our cost and efficiency”.

Further details about OCEAN Alliance and the transition plans from the four member lines in their current alliances will be communicated to stakeholders and the market in due course.