A new announcement for strategic cooperation on the Asia – US East Coast trade routes was recently made by the Maersk Line, Mediterranean Shipping Company (MSC) and ZIM. The Maersk Line currently operates five loops while ZIM operates two loops.
In early September 2018 both Maersk and MSC will contribute four of their operated loops to a total operation of five loops with ZIM between Asia and the East Coast of the US.
While ZIM will operate just one loop, the combined parties will swap slots on all five loops under the new cooperation.
The Maersk Line will will generate cost efficiencies and provide new opportunities for their customers who will receive access to an improved service on the Asia – USEC trade, this includes a new direct service from the US East Coast into Thailand. All this is achieved thanks to the new cooperation.
Maersk Line Chief Operating Officer, Søren Toft said, “We are pleased to enter into this strategic cooperation with ZIM. We will improve our combined product portfolio between Asia and the US East Coast and deliver on our promise to customers while creating the needed operational efficiencies for us to run a sustainable business on the trade also in the future.”
Subject to regulatory approval, the cooperation is scheduled to commence in early September 2018. Four years is the initial term of the cooperation between the companies, however, there is option within the agreement that could see the term extending to seven years in total.