Shipping giants extend OCEAN Alliance until 2032

CMA CGM, COSCO SHIPPING, Evergreen and Orient Overseas Container Line (OOCL), the founding members of the world’s largest shipping network, have signed a Memorandum of Understanding (MoU) in Shanghai to extend the OCEAN Alliance operational cooperation for five additional years until 2032.

Under the MoU, the partners plan to extend their cooperation until March 31, 2032.

Launched in the spring of 2017, OCEAN Alliance is the world’s largest operational shipping network and the backbone of trade routes for international commerce. In January 2019, the partners agreed to extend the pact until 2027.

Since 2017, OCEAN Alliance has enabled the four partners to deliver services with fast transit times, competitive sailing frequencies, and the most extensive port coverage. The pact covers 7 major East/West trades, mainly connecting Asia to Northern Europe, the Mediterranean, the Middle East and the East and West coasts of North America.

“OCEAN Alliance would like to deliver a clear and positive signal to our customers to ensure stable and reliable service with the confirmation of at least five years cooperation extension. We are convinced that as a sustainable and responsible alliance, we can provide continuous high-quality transportation to our customers and contribute to a globally stable supply chain, in compliance with all applicable laws and regulations,” OOCL noted.

According to CMA CGM, with this extension, the alliance will pursue its primary goal: deliver the best service offering to its partners’ respective customers in the years to come.

The company committed to achieving Net Zero by 2050. That is why the firm is implementing the best available solutions to reduce the environmental impact of shipping and logistics and is set to operate more than 120 containerships propelled with alternative green fuels by 2027, part of which are already deployed on OCEAN Alliance footprint.

“Since 2017, the CMA CGM Group has been committed alongside its partners within the OCEAN Alliance to combine the largest shipping network with best-in class services. The decision to extend our cooperation for at least 5 more years forges our commitment to meet our customers’ needs and build even more secure, reliable and sustainable supply chains. Our diversity is our strength, together we will continue to pioneer our industry!” Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, said.