COSCO Chose Alliance Partners Based on Size, Value System

China's COSCO Container Lines chose new alliance partners based on size and the value of arrangements, executives from the firm and parent China COSCO Shipping said at a press conference in Shanghai on Wednesday.

The executives said four partners plan to inject 3.5 million twenty-foot equivalent units (TEU) of container capacity into the alliance.

Existing alliance arrangements are due to expire at the end of this year, they said.

COSCO Container Lines and France's CMA CGM SA are to form a four-way vessel-sharing alliance with Taiwan's Evergreen Line and Hong Kong's Orient Overseas Container Line focused on Asian routes, CMA CGM said on Wednesday.