The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

US regulator approves Maersk's vessel sharing pact with MSC

2M alliance, in which the two pool 185 ships and will save Maersk US$350m, still faces resistance in China

Published Thu, Oct 9, 2014 · 09:50 PM
Share this article.

Shanghai

MAERSK Line and Mediterranean Shipping Co (MSC), the world's two largest container shippers, won approval from US maritime regulators for a planned vessel sharing pact, bringing it a step closer after a bid for a larger alliance failed.

The so-called 2M alliance would see the two carriers pool 185 ships on European, transatlantic and transpacific services, which Maersk Line says would save it US$350 million a year.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here