CMA CGM and MSC in partnership deal

12/2/2011 10:33:21 AM

CMA CGM and MSC, the world’s second and third-largest container shipping companies, have signed an agreement to partner on the Asia-North Europe, Asia-Southern Africa and all South American trades. The two family owned shipping companies made the deal to improve the performance of the giant carriers in an oversupplied market plagued by weak rates and high bunker costs. No mention was made of capacity cuts or service changes, but in a joint statement the lines said on “a certain number” of trades, the partnership would enable the groups to deploy the best ships in each of their fleets, while increasing the number of ports of call and frequency of sailings.” Cargonews Asia

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