Wednesday October 1, 2014
MSC alliance to save Maersk $350M annually
The 2M alliance, Maersk Line's shipping proposed vessel-sharing agreement with Mediterranean Shipping Company, will save the Danish shipping giant $350 million a year in reduced costs, according to Maersk presentation to analysts last Wednesday.
2M, which is pending regulatory approval, combine the resources of the two top container shipping companies in the world and involve all major shipping routes.
Analysts had forecasted savings for the A.P. Moller-Maersk subsidiary at $400 million.
For more of the Reuters story: in.reuters.com
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