Just months after the rejection of the P3 alliance by the Chinese authorities CMA CGM has announced its plans to team up with United Arab Shipping Corp (UASC) and China Shipping Container Line (CSCL) in the global Ocean Three agreement.
The alliance, which has been speculated about since CMA CGM was left out in the cold by its proposed P3 partners Mediterranean Shipping Co and Maersk Line who went on to announce the 2M vessel sharing agreement, sees the French line joining UASC and CSCL with three agreements that will cover the Asia-Europe, Asia-Mediterranean, transpacific and Asia – US East Coast trades.
CMA CGM said the agreements combine vessel sharing, slot charter and slot exchange agreements.
Ocean Three will cover six Asia – Europe, four Asia – Mediterranean, five transpacific and two Asia to the east coast US and America’s trade. Agreements for the transatlantic are yet to be finalised the French line said.
“This will allow us to propose to our clients a high quality and reliable alternative to existing services on the market. CMA CGM will continue its global development,” said Rodolphe Saadé, vice chairman of CMA CGM.
The agreement builds upon an existing plan by UASC and CSCL to cooperate on their 18,000 teu plus newbuildings on the Asia – Europe trade.
CMA CGM said the agreement would require the approval the US Federal Maritime Commission.