CMA-CGM and Cosco Alliance in the Offing?
The newly-formed shipping giant China Cosco Shipping Corporation and CMA CGM met recently in Shanghai to discuss the possibility of a new French-Asian alliance, say local Chinese media.
According to sources, the alliance would also include Orient Overseas Container Line (OOCL).
If it happens it would be shake-up the present structure of maritime alliances of container companies.
China Cosco Shipping Corporation - which is made up of Cosco and CSCL - is likely to own 832 ships including containers, dry-bulk vessels and tankers amounting to almost $22 billion.
Together with NOL and its subsidiary APL, CMA-CGM remains in third place, but would rise to 2.3 million TEUs of total capacity, behind Maersk and MSC.
CMA CGM’s plans to bring APL into the Ocean Three Alliance once the NOL acquisition is done has put the spotlight on the G6 Alliance and what the loss of its Singapore-based member would mean.
With APL out of the G6 alliance, it has become at G5. And if OOCL also walks out, it'll be G4. The G6 Alliance members were: APL, Hapag-Lloyd, Hyundai Merchant Marine, Mitsui O.S.K. Lines, Nippon Yusen Kaisha and OOCL.
The Ocean Three carriers are CMA CGM, CSCL and UASC. The new Cosco is investing a lot in Europe. Maritime observers are excitingly watching for the new Cosco and CMA CGM collaboration.