The Ocean Alliance group, consisting of COSCO shipping, CMA CGM, Evergreen, and OOCL has signed an extension of its agreement to March 2032, allaying rumours that one of the operators could move to replace Hapag-Lloyd at the THE Alliance.
Launched in 2017, the Ocean Alliance is the world’s biggest shipping network with three of the ten biggest operators globally part of its group and a capacity of around 4.3m TEUs, accounting for 16% of global fleet capacity.
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The alliance had previously been extended until 2027 but the latest agreement comes as its members sought to show strength in the face of the partial breakdown of other alliances.
A statement said: “Ocean Alliance would like to deliver a clear and positive signal to our customers to ensure stable and reliable service by extending the cooperation for at least five years.
“We are convinced that as a sustainable alliance, we can provide continuous high-quality transportation to our customers and contribute to a stable supply chain.”
Rodolphe Saadé, chairman and CEO of CMA CGM, echoed this sentiment, particularly highlighting his company’s use of green energy for ships within the alliance, with 120 of its containerships to be powered by green fuels by 2027, part of which will be deployed in the alliance.
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By GlobalDataHe added: “The decision to extend our cooperation for at least 5 more years forges our commitment to meet our customers’ needs and build even more secure, reliable and sustainable supply chains. Our diversity is our strength, together we will continue to pioneer our industry.”
Recently the THE Alliance also had to defend its “unwavering cooperation” after the news that German company Hapag-Lloyd would leave the group in 2025 to join a new alliance with Maersk, to be known as the Gemini Cooperation.
