Maersk Line, MSC to launch vessel-sharing service in Jan

[SHANGHAI] Maersk Line plans to launch its new vessel sharing service with MSC Mediterranean as early as January next year, and expects to notify customers of the network and transit times by September.

The world's largest container shipper, part of Denmark's AP Moller-Maersk, and Swiss firm Mediterranean Shipping Co (MSC) last month reached an agreement on ship-sharing, a month after China's Ministry of Commerce blocked a larger plan by the two firms and France's CMA CGM due to competition concerns.

The global industry has been battling overcapacity since the financial crisis because new vessels ordered before the downturn have flooded the market. With freight rates still in the doldrums, the companies hope that their new effort at pooling ships will help them reduce operating costs.