Maersk and MSC to attempt new alliance
After China’s rejection of the P3 Alliance (see our previous news), the shipping companies Maersk Line and Mediterranean Shipping Company (MSC) found a solution to combine their forces and signed a ten-year agreement. The replacement of the P3 network is called the Vessel Sharing Agreement (VSA) and is based on the three main east-west trades: Asia-Europe, Trans-Pacific and Trans-Atlantic.
The new collaboration, also known as 2M, will provide 185 ships with 2,1 million TEU capacity and the ships will be deployed on 21 strings. Maersk will bring 110 vessels with a general capacity of 1,2 million TEU and MSC will provide 75 vessels with 0,9 million TEU.
The aim of the new alliance is to improve the profitability and efficiency of operations on routes across the Atlantic and Pacific oceans as well as between Europe and Asia. The Vessel Sharing Agreement will allow Maersk and MSC to provide the direct services to the ports, so their customers will benefit from the stable and frequent services. The VSA will also help the companies to use better the vessel capacities.
In comparison to the P3 Alliance, the 2M agreement is not expected to be blocked by regulatory opposition as it is smaller in scope. The VSA is expected to start its operations in the beginning of 2015.