Major shipping group CMA CGM has announced the signing a new service agreement with its Ocean Alliance partners COSCO, Evergreen and OOCL.
Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, signed a deal with fellow executives to launch the new “Day 3 Product”, which will see 330 vessels from all four Ocean Alliance companies operating on 38 separate services.
According to a statement, 111 of those 330 container ships will be operated by CMA CGM, which continues to play a major role within the alliance.
The estimated container capacity of the collaborative effort amounts to 3.8 million TEU, optimizing the ability of CMA CGM and fellow shippers to deliver more goods at a faster rate.
Neil Davidson discusses the 'Mega-Alliance Impact' affecting ports in a recent Port Technology technical paper
The latest evolution of the Ocean Alliance product includes the largest service offer on the Transpacific trade, with a total of 19 services available as part of Day 3.
In addition to this, there will also be a strengthened offer between Europe and Asia following the addition of a seventh service along this route.
The Ocean Alliance is also the only group offering four services between Asia and the Middle East.
— Rodolphe Saade (@RodolpheSaade) January 16, 2019
Commenting on the agreement, Rodolphe Saadé said: “This new agreement with our Asian partners will enable us to propose to our customers an unrivalled and competitive service offering.
“It is a milestone in our development strategy. It reinforces the CMA CGM Group in its key position within the industry.”
The Ocean Alliance, launched in spring 2017, is the world’s largest operational agreement between shipping companies.