New shipping alliance sets sail
By Zhong Nan | China Daily | Updated: 2016-04-21 08:21
COSCO-led partnership to take on current market dominance by Danish-Swiss group 2M
China COSCO Shipping Corp Ltd and three partners, including France's CMA CGM SA, on Wednesday announced a new shipping partnership, OCEAN Alliance, formed to challenge 2M - the world's largest container carrier alliance.
Formed by Denmark's Maersk Line and Switzerland's Mediterranean Shipping Co SA, 2M started its operations in 2015, and controls more than 2.1 million twenty-foot equivalent units, and manages more than 200 vessels.
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