Maersk Line has announced that it has entered into Vessel Sharing Agreement (VSA) with Mediterranean Shipping Company (MSC) and Mitsui OSK Lines (MOL) on the Asia to East Coast of South America trade.

'The VSA will simplify the network and improve operational responsiveness on the route,' the group noted. 'It will also enable us to deploy vessels that are better suited for East Coast South America terminal capabilities and continue to optimise utilisation of vessel capacity, providing greater economies of scale.'

The news comes days after Maersk Line revealed it had turned in its best-ever first quarter result, with profit up 57.1 per cent to US$714m - the result lower bunker costs and a strong US Dollar.

Revenue in the opening quarter stood at US$6.25bn, 3.2 per cent lower than the same period of 2014 (US$6.46bn).