Two of the three big alliances of container shipping lines are to join forces to offer joint services on the key Asia to Europe rate, in the latest sign of how a combination of industry overcapacity and fierce competition are quickening the pace of industry consolidation.
The A6 Alliance will join the Grand Alliance — whose members are Germany's Hapag-Lloyd, Japan's NYK Line and Hong Kong's OOCL — and the New World Alliance — made up of Singapore's Neptune Orient Lines, Korea's Hyundai Merchant Marine and Japan's Mitsui OSK Lines.
Two of the three big alliances of container shipping lines are to join forces to offer joint services on the key Asia to Europe rate, in the latest sign of how a combination of industry overcapacity and fierce competition are quickening the pace of industry consolidation.
The A6 Alliance will join the Grand Alliance — whose members are Germany's Hapag-Lloyd, Japan's NYK Line and Hong Kong's OOCL — and the New World Alliance — made up of Singapore's Neptune Orient Lines, Korea's Hyundai Merchant Marine and Japan's Mitsui OSK Lines.
The alliance will offer seven services weekly from Asian ports to north Europe and two to the Mediterranean.
The alliance's formation follows the announcement on December 1 by Switzerland's Mediterranean Shipping Company and France's CMA CGM, operators of the world's second and third-largest container ship fleets, that they planned to form an alliance on several routes. The pair's alliance will give them a combined fleet larger than that of Denmark's Maersk Line, the market leader.
Container shipping alliances work like the better-known airline alliances, allowing members to share space on services operated by other members and making the best possible use of capacity.
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