Mitsui O.S.K. Lines (MOL), Nippon Yusen Kaisha, “K” Line, Hanjin, Hapag-Lloyd and Yang Ming have announced a partnership to create ‘THE Alliance’ to build a leading network in the container shipping industry.
Approximately 4.5 million TEU or 18% share of the global container fleet capacity will be combined. With more than 620 ships in total, the network of THE Alliance will ensure frequent sailings, high reliability and attractive transit times for all shippers in the East-West trade lanes.
Clients will be able to access a large product portfolio characterised by fast transit times, high frequency sailings and expansive port coverage in all of the East-West trade lanes namely, Asia-Europe / Mediterranean, Asia-North America West Coast, Asia-North America East Coast, Transatlantic and Asia-Middle East / Persian Gulf / Red Sea.
Following a binding agreement, operation is to begin in April 2017 subject to approval of all relevant regulatory authorities. The initial term of the cooperation will be five years.
It is anticipated that UASC will become part of THE Alliance, which will increase the overall alliance capacity to more than 4 million TEU.
Ship Efficiency Review News
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