Mediterranean Shipping Company (MSC) and A.P. Moller – Maersk (Maersk) have mutually agreed to terminate the 2M alliance.
The termination will be completed in January 2025.
The 2M alliance, established in 2015, is a strategic partnership that allows for the sharing of shipping routes and resources to enhance efficiency and reduce expenses.
In a joint statement, the CEOs of both companies, Vincent Clerc of Maersk and Soren Toft of MSC, acknowledged that the shipping industry has undergone significant changes since the alliance was first established, and that discontinuing the 2M alliance would allow both companies to pursue their own individual strategies.
“We have very much appreciated the partnership and look forward to a continued strong collaboration throughout the remainder of the agreement period. We remain fully committed to delivering on the 2M alliance’s services to customers of MSC and Maersk,” they added.
This decision will not have any immediate impact on the services provided to customers using the 2M trades and both companies will continue to provide the same level of service and support during the transition period.
Lars Jensen, global shipping expert and CEO of Vespucci Maritime, wrote: “This will change the competitive dynamics on the major east-west trades for all major carriers, and clearly all carriers will take a close look at which threats and opportunities this will bring forth.”
As 2022 proved to be particularly lucrative one for liner shipping, MSC was once again the most expansionist among the big carriers in 2022, adding 321,500 TEU to its fleet capacity.