The world’s third-largest container carrier CMA CGM recently attended a meeting in Shanghai where the possibility of a new French-Asian alliance was discussed with the newly formed China Cosco Shipping Corporation – which is made up of Cosco and CSCL – according to Shipping Watch.
The proposed merger would also include Orient Overseas Container Line.
Lars Jensen, CEO of Sea Intelligence Consulting, said: “In today’s market, it’s absolutely crucial to be part of a major alliance.
“UASC would come under severe pressure if this new alliance becomes reality.
“It would very much disrupt the scenario we have today, and it would raise numerous questions and create new challenges.
Mr Jenson concluded: “With APL out of the G6 alliance, we’re now looking at G5. And if OOCL also walks out, it’ll be G4. This puts Hapag-Lloyd, in particular, in a wholly new and unclear situation.”
Source: Port Technology
Source: Port Technology