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Cosco-CMA CGM plan with OOCL, Evergreen, would wreck most al

writer:everlucky time:2016-02-24 15:22

Feb.18--A NEW mega alliance appears to be forming as French shipping giant CMA CGM and China Cosco lead efforts to set up a new carrier partnership that may yet include Hong Kong's Orient Overseas Container Line (OOCL), reports Paris-based Alphaliner.

  OOCL is understood to be reviewing its options after a high-level meeting with CMA CGM and Cosco in late January, said the Paris-based research house.

  The plan is to include OOCL and Taiwan's Evergreen that may well split up three of today's four main east-west alliances and leave Ocean Three, CKYHE and G6 alliances in tatters.

  CMA CGM already stated that it will pull APL out of the G6, once it takes over Singapore's APL in the second half of the year. The Marseilles-based carrier has also expressed the hope that the merged Cosco-CSCL will join the Marseilles-based carrier in a new alliance partnership.

  But Cosco has yet to reveal any post-merger alliance plans to follow its acquisition of CSCL's container shipping operations, due to be finalised by the end of February.

  Meanwhile, Evergreen is in a mourning for its late founder Chang Yung-Fa and is not expected to make any announcements until the month-long silent period is over.

  Said Alphaliner: "While the new alliance's final composition could still change, the driving factor behind the proposed four-carrier 'CCEO' set-up is clear: The motivation is to from a strong and stable alliance that could challenge the 2M's dominance in the east - west trades and to distance the 'CCEO' from some of the weaker partners within the current alliances, which could be facing financial distress."