New alliance formed as shake-up begins

CMA CGM, COSCO Container Lines, Evergreen Line and Orient Overseas Container Line (OOCL) have signed a memorandum of understanding (MoU) to form the Ocean Alliance, thus heralding a transformation of existing alliance structures.

Subject to regulatory approvals of competent authorities, the new alliance plans to begin operations in April 2017 with an initial period of five years.

The deal constitutes the first of a new generation of alliance agreements following the announcements of COSCO’s merger with China Shipping and CMA CGM’s takeover of Neptune Orient Lines (NOL).