Maersk in shipping alliance with MSC after China snub
July 11, 2014, 12:05 am TWN
COPENHAGEN, Denmark--A.P. Moeller-Maersk Thursday announced an alliance with shipping company MSC on some of the world's busiest cargo routes after China scuppered a planned tie-up between the two companies and CMA.
The Danish shipping and oil conglomerate said it had signed a 10-year alliance with Swiss-Italian MSC on routes between Asia and Europe, and across the Atlantic and Pacific oceans.
Maersk said in a statement that if regulatory approval was given, the alliance would begin operating in early 2015.
The new agreement will cover 185 vessels, rather than the 255 foreseen in the triple alliance nixed by Beijing, and Maersk Line will contribute 55 percent of the total capacity.