Maersk, MSC Bolster Ties with ZIM
- Business & Finance
The 2M Alliance partners Maersk and Mediterranean Shipping Company (MSC) are boosting their strategic cooperation with Israeli liner counterpart ZIM.
The expanded cooperation will see the trio share slots on select 2M services also on the Asia – US West Coast and Asia – Mediterranean trade lanes.
As disclosed, the TP9 service between Asia and the US West Coast, will be operated as a Vessel Sharing Agreement string where ZIM will operate four vessels and 2M will operate three vessels. A part of the ZIM slots on the TP9 will be swapped for access to slots on the fully 2M operated TP8 service.
2M partners said that there would be no schedule changes to the TP8 and TP9 services.
Between Asia and the Mediterranean, ZIM will get access to 2M slots on the AE12 and AE15 services, however, there would be no changes to the schedules of the said services.
“Having successfully implemented our strategic cooperation, we are very pleased to expand the partnership with ZIM into additional geographies. This agreement delivers mutual benefits to both parties, for Maersk it provides operational efficiencies that will enable our continued drive to deliver competitive and reliable products for our customers in the world’s most comprehensive East-West network,” says Søren Toft, Chief Operating Officer, A.P. Moller – Maersk.
The service changes are expected to begin in March 2019, subject to regulatory approval.
The deal builds upon the strategic cooperation agreed by the trio in July 2018, when the liner companies decided to swap slots on five loops on the Asia – US East Coast trade. As disclosed at the time, the arrangement is aimed at achieving economies of scale and efficiencies, helping the carriers to overcome tough business conditions.