French container shipping group CMA CGM has sealed an alliance with two rivals after a failed attempt to partner with bigger peers Maersk and Switzerland’s MSC, vetoed by China earlier this year due to competition concerns.
CMA CGM said on Tuesday it had agreed a service-sharing alliance with China Shipping Container Lines Co Ltd and United Arab Shipping Co to be known as Ocean Three. The agreement still needs approval from the U.S. Federal Maritime Commission.
The deal comes after the collapse in June of CMA CGM’s planned service-sharing alliance with Maersk and Mediterranean Shipping Co or MSC, since when the latter two operators have formed a two-way linkup that they expect to launch early next year.