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Ocean Alliance extended

The OCEAN Alliance of CMA CGM, COSCO, Evergreen and OOCL, one of the world’s largest operational agreement between shipping companies, has extended its duration for a further ten years until 2027.

The signing ceremony took place in Hainan, China, with the executives of COSCO SHIPPING, Evergreen and OOCL. It follows on from the initial launch in 2017 for a period of five years.

The ten year extension is expected to benefit the OCEAN Alliance’s preparations for the challenges facing shipping in the future, with trade talks between the world’s major economic powers the US and China still ongoing.

In addition to this, all members of the carrier body have agreed to perform the necessary procedures for related regulators, ensuring their operations conform to existing maritime rules.

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