COSCO and CMA CGM to increase cooperation

COSCO Shipping’s and CMA CGM’s port operating subsidiaries have signed an agreement aimed at increasing their cooperation on port operations and investments worldwide.

According to a statement, under the new Memorandum of Understanding (MOU) signed by COSCO Shipping Ports and CMA Terminals Holding, preference will be given to ports called at by the Ocean Alliance, of which both COSCO Container Lines and CMA CGM are part.

The MOU followed discussions of a collaboration between the companies started in early 2016, with their cooperation becoming closer with the establishment of the new alliance.