Major Asian and European shipping lines, including Cosco Shipping, CMA CGM, Evergreen, and Orient Overseas Container Line, extend their Ocean Alliance vessel-sharing agreement until 2032.

Major Asian and European shipping lines, including Cosco Shipping, CMA CGM, Evergreen, and Orient Overseas Container Line, have agreed to extend their Ocean Alliance vessel-sharing agreement, initially established in 2017, until 2032. The extension aims to ensure the companies can continue offering stable and reliable services to customers amidst challenges such as overcapacity, low freight rates, and recent attacks on merchant vessels. The alliance covers the seven main East-West routes linking Asia with Northern Europe, the Mediterranean, the Middle East, and the coasts of North America.

February 27, 2024
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