2M, the proposed vessel-sharing alliance between Maersk Line and Mediterranean Shipping Company (MSC), is said to have begun its vessel-sharing agreement (VSA) with the introduction of a brand new Maersk Triple-E vessel.
According to the Journal of Commerce, the 2M Alliance between Maersk Line and MSC began operations in Dalian in the Liaoning Province of the People's Republic of China over the weekend, as the Munkebo Maersk Triple-E left for Busan, South Korea.
The US Federal Maritime Commission approved the alliance on October 8, 2014, and European regulators gave their approval on September 23, 2014.
If the market share is not reduced, Maersk would control 20% of capacity on the Asia-Europe trade lane with MSC claiming 15%.
Vice President of the China Shipowners’ Association, Zhang Shouguo, said: “Given their current capacity, Maersk and MSC’s market shares in Asia – Europe routes will be over 30%,” Later adding that the alliance will face additional investigation by the Chinese government if it does not comply with the country’s regulations.
Maersk argues that it has filed the required paperwork for the 2M agreement with the China Ministry of Transportation.
The alliance was set up in mid-2014 in a bid to consolidate the services of both carriers, and increase the liners’ profitability and operational efficiency after CMA CGM, Maersk and MSC’s ‘P3’ agreement was blocked by China on antitrust grounds.
2M to Set Sail Amid Chinese Scrutiny. (Source: Ship Spotting)