Maersk Line, Mediterranean Shipping Company (MSC) and ZIM have announced a new strategic cooperation on the Asia–US East Coast (USEC) trade.
Currently Maersk Line and MSC operate five loops and ZIM operates two loops on the trade.
As of early September 2018, Maersk and MSC will contribute four of their operated loops to a combined operation of five loops with ZIM between Asia end the US East Coast, while ZIM will operate one loop. The parties will swap slots on all five loops of the new cooperation.
For Maersk Line, the cooperation will generate cost efficiencies and provide new opportunities for customers who get access to an improved product on the Asia–USEC trade, including a new direct product from the US East Coast into Thailand.
“We are pleased to enter into this strategic cooperation with ZIM," said Søren Toft, chief operating officer at Maersk Line. "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 in the future.”
The cooperation is scheduled to begin in early September 2018, subject to regulatory approval.
The initial term of the cooperation is four years with an option to extend it to seven years in total, and the parties expect to disclose more information about network changes and schedules on the trade as soon as possible.