Cargo Business Techwire

Friday, April 22, 2016

Top Story

CMA CGM, Cosco, Evergreen and OOCL to form "Ocean Alliance"

France's CMA CGM and China's COSCO Container Lines will form a four-way vessel-sharing alliance with Evergreen Line and Orient Overseas Container Line focused on Asia routes, CMA CGM said on Wednesday.

The partners plan to begin operations in April 2017 for an initial period of five years, CMA CGM said in a statement.

The partnership, the "Ocean Alliance," would involve a fleet of 350 container ships and in a first stage cover more than 40 services, the French group said.

The alliance is subject to regulatory approvals from

the U.S., the European Union and China.

For more of the Reuters story: www.reuters.com