CMA CGM Group, the world’s third largest container shipping company, announced three major agreements with China Shipping Container Lines Co, Ltd. (CSCL) and United Arab Shipping Company (UASC). Under the name of OCEAN THREE, the agreements concern the following maritime trades: Asia-Europe, Asia-Mediterranean, Transpacific and Asia-United States East Coast.
Pending approvals from the Federal Maritime Commission (FMC), the agreements, a combination of Vessel Sharing Agreements, Slot Exchange Agreements and Slot Charter Agreements, will complete CMA CGM offerings in the most important global maritime markets, namely the Asia-Europe, Asia-Mediterranean, Transpacific, and Asia-US East Coast trade lanes. Agreements regarding Transatlantic trade lanes are expected to be announced soon.
The new offerings will are aimed at increasing both speed and reliability. Rotations will be optimized with calls in all the biggest Asian, European and North American ports, using transshipment hubs common to the three partners.
Rodolphe Saadé, CMA CGM Vice-Chairman, stated: “We are very pleased to have signed these three agreements with such reputable partners, whom we both know and appreciate. This will allow us to offer to our clients a high quality and reliable alternative to existing services on the market.”
CMA CGM is the world’s third largest container shipping company. Operating a fleet of 430 vessels, the Group serves more than 400 ports around the world. In 2013, the Group carried 11.4 million TEUs. With a presence on every continent and in 150 countries through its network of 650 agencies and branch offices, the Group employs more than 18,000 people worldwide and 2,400 in its headquarter in Marseilles.
China Shipping Container Lines Co., Ltd., an affiliate of China Shipping Group, is a global container liner service provider involved in diversified businesses. Founded in 1997, the Shanghai-based company is listed on both the Hong Kong and Shanghai Stock Exchanges, with a capital of RMB 11.683125 billion.
United Arab Shipping Company is a global shipping company based in the Middle East. Founded in 1976, UASC is present in more than 75 countries around the world, covering over 200 ports and destinations worldwide. UASC offers containerized and conventional cargo transportation, temperature-controlled cargo and value-added services to a diversified global client base, covering the Middle East, Europe, Mediterranean, Indian Sub-continent, Far East, Australia, West Africa and The Americas.