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Maersk and Hapag-Lloyd Announce Long-Term 'Operational Collaboration'
Leading container lines AP Moller-Maersk and Hapag-Lloyd have announced plans for a long-term 'operational collaboration' in which the firms will share capacity.
The new plan, named the 'Gemini Cooperation', will start in February 2025, Hapag-Lloyd said in an emailed statement on Wednesday. Hapag-Lloyd will leave the THE alliance at the end of January 2025 as a result.
The cooperation will take in a fleet of about 290 vessels and 3.4 million TEU of capacity, with Maersk deploying 60% and Hapag-Lloyd 40%.
The two container lines are setting a target of schedule reliability above 90% once the network is fully phased-in.
"We are pleased to enter this cooperation with Hapag-Lloyd, which is the ideal ocean partner on our strategic journey," Vincent Clerc, CEO of Maersk, said in the statement.
"By entering this cooperation, we will be offering our customers a flexible ocean network that will be raising the bar for reliability in the industry.
"This will strengthen our integrated logistics offering and meet our customers' needs."
Maersk is the world's second-largest container line by capacity, and Hapag-Lloyd the fifth-largest.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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