Container Alliance Shake Up on Hold, Says China COSCO Shipping

by Ship & Bunker News Team
Thursday February 25, 2016

China COSCO Shipping Corporation Limited (China COSCO Shipping), the new entity resulting from the merger of China Ocean Shipping (Group) Company (China COSCO) and China Shipping Group (CSG), says that it will maintain its two current shipping alliances while it conducts a careful review and selection of its potential future alliance partners.

As Ship & Bunker has previously reported, CMA CGM S.A. and China COSCO Shipping were last week said to be working toward the creation of a new mega-alliance that could split up three of the four current major East-West shipping alliances and provide significant competition to the fourth.

"The new group will choose its future partners carefully, and is committed to building a strong and competitive alliance," a spokesperson from China COSCO Shipping was quoted as saying.

"To ensure continued and stable services, the company will maintain operations in the two alliances until the alliance reorganisation is complete."

On Monday, Ship & Bunker reported that China COSCO Shipping is said to be aiming to reach operational capacity of 2 million TEU by 2018, a move that could put the company into third place of the current ranking of the world's largest container carriers, behind Maersk and MSC.

Ship & Bunker News Team
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