Due to the volatility of freight rates, new alliances have begun to emerge. 2016 marked the disappearance of key players in the sector and included the bankruptcy of the first South Korean shipowners, Hanjin Shipping.
Since the end of 2014, the 2M Alliance has united the two world leaders; the Danish Maersk Line and the Italian MSC. Two other alliances have since formed and have been in successful operation since the beginning of April 2017.
Ocean Alliance: This alliance is formulated with French owned CMA CGM, Chinese COSCO, Taiwanese EVERGREEN LINE and the Hong Kong OOCL.
THE Alliance brings together the German company Hapag-Lloyd, Japanese K Line, Mitsui OSK Lines (MOL), Nippon Yusen Kaisha (NYK) Group, and the Taiwanese Yang Ming.
We hope that the introduction of these three competitive Ocean Alliances will help stabilise the market and rates, especially within the Asia - Europe trade lane.
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