Marine Link
Thursday, November 28, 2024

COSCO Chose Alliance Partners Based on Size, Value System

Maritime Activity Reports, Inc.

April 20, 2016

Photo: China COSCO Shipping

Photo: China COSCO Shipping

China's COSCO Container Lines chose new alliance partners based on size and the value of arrangements, executives from the firm and parent China COSCO Shipping said at a press conference in Shanghai on Wednesday.
 
The executives said four partners plan to inject 3.5 million twenty-foot equivalent units (TEU) of container capacity into the alliance.
 
Existing alliance arrangements are due to expire at the end of this year, they said.
 
COSCO Container Lines and France's CMA CGM SA are to form a four-way vessel-sharing alliance with Taiwan's Evergreen Line and Hong Kong's Orient Overseas Container Line focused on Asian routes, CMA CGM said on Wednesday.
 
 
(Reporting by Brenda Goh)

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week